The last time we checked out this recently renovated five-bedroom in Sag Harbor's (actually Noyac's) "highly coveted neighborhood of Baypoint", we thought the $3.5M pricetag was rather unreasonable. For the most part, Curbed readers seemed to agree that the ask was too damn high:
"What are these people smoking??? Land = worth 750K at most. With the house, value is about $1.1 Mil total. It looks like one of the cookie-cutter ranch style houses that was built in Baypoint in the 50's, with a quick-fix renovation. Notice how they do not show any photos of the exterior of the house itself, that tells you something. Looks like a double-secret teardown job."Now, two and a half months later, they've introduced the 3000 sq. ft. residence to the pricechopper's blade to the tune of $700K. While it's a step in the right direction, $2.7M is still, to put it politely, overly-optimistic. Our question to Curbed readers is: How low do you think this home needs to go before the ask doesn't inspire head-scratching and a look of disbelief?
· Super-sized and Sub-Dividable in Baypoint [Corcoran]