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$945K In Springs: A 3000 Sq. Ft. Two-Bedroom Contemporary

Where: 1124 Springs FIreplace Road, Springs
Price: $954,000
Sale Date: Dec. 14, 2011
Bedrooms/Baths/Sq. ft.: 2/2.5/4300
Acreage: 2.75
The Skinny: Oof. That's all there is to say about the sale of this two-bedroom contemporary in Springs. It was originally purchased by the owners of The Baker House 1650, Gary and Rita Reiswig, for a little over $1.3M in 2005. Six years later, the couple sold it at almost a 30% loss. It's unfortunate that they originally bought at the height of the bubble because the 3000 sq. ft. home is actually quite nice. We're digging the combination of open spaces, polished stone walls, exotic wood and walls of windows. The property also boasts the requisite pool, borders the Accabonac reserve and is just around the corner from Gerard Drive peninsula. Hopefully the new owners will hold on to it long enough so they're not in the same losing position if and when they do decide to sell.

· Listing: 1124 Springs Fireplace Road [Devlin McNiff Halstead Property]

The Baker House 1650

181 Main Street, East Hampton, New York 11937 (631) 324 4081 Visit Website