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David's Lane Colonial Sells For A $750K Loss

We knew this five-bedroom was destined to change hands for less than the $4.5M the now-previous-owner shelled out back in 2006, but the $3.75M final purchase price still stings a little bit. Readers might recall that back in 2010, optimism ruled the day and its pricetag of $4.85M would have meant the seller squeaked by with a modest return on their investment. However, the reality of 2012 set in and $900K worth of chops were required before a buyer was found. Even then, the new owner was able to close on the place for an additional $200K below the last listed ask of $3.95M. Ouch.

· Listing: David's Lane, East Hampton Village [Sotheby's International Realty via HREO]