Five Years Later, Southampton's 'Wyndecote' Finds A Buyer

Looks like the $1.5M that Enrique Foster Gittes tacked on to the asking price for "Wyndecote" back in March didn't spoil the soon-to-be homebuyer's interest in the place . After almost five years, the eight-bedroom home has finally, gloriously, clicked over to "In Contract."

Set on 1.5 acres, the Queen Anne-style home last changed hands for $2.85M all the way back in 1997 (a relative lifetime in the world of Hamptons real estate). Ten years, a restoration, and a renovation?updates include central A/C, a gunite pool, and a sunken tennis court?later, Mr. Gittes put the residence up for sale. Though the "summer cottage" remained unsold during all this time, he only chopped the price twice, eventually re-raising the ask to its original $12.5M level earlier this year.

· 'Wyndecote' [Old Long Island]
· Wyndecote [House Hungry]
· Listing: 354 South Main Street [Corcoran]