This "designer's own" in Amagansett is suffering from the same asking price confusion as?get this?the house next door. When it first hit the market in May of 2010, it was asking $13.5M. Six months later, it jumped in price to $14.25M. Now, after a $750K pricechop on Sunday, it's ask is right back to where it started.
Even the amenities are very similar to that of its neighbor:
"The light-filled gourmet kitchen, sunroom, dining room and living room with fireplace have walls of glass overlooking the ocean. The spacious master suite has a private seaside balcony. Your enjoyment will continue in the custom home theatre with the latest technology, den with fireplace and wet bar, elevator, radiant heated floors, heated gunite pool with waterfall and spa on spacious terrace."And, much like the other listing, there's a reason why this hasn't found a buyer in the more than year and a half it's been on the market: The numbers just don't add up. It's set on less than half an acre and offers only a modest 3500 sq. ft. of living space. No one in their right mind is going to pay $3857/sq. ft.?especially in a still-recovering market?even if the property does offer some pretty incredible views. · Listing: Oceanfront New Luxury Home [Sotheby's]
· Irreplaceable Oceanfront [Corcoran]