After almost five years of languishing on the market, East Hampton's 24 Ocean Avenue has changed hands. Final sale price? Drumroll please...$8.75M! That number represents an enormous step down from the 2008 pricetag of $18.5M, but the seller can take comfort in the fact that they're not alone in the world of extreme discounts. 2012 has seen a fair share of properties that have traded for less than 50% of their initial asks. It's a buyer's market!
· Listing: 24 Ocean Avenue [Corcoran]