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It's Pricechop Numero Four For This Jeffery Collé EH Estate

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For a home that the brokerbabble describes as "East Hampton Perfection" it sure has been languishing on the market for quite some time. They must be referring to the house itself and not the price, 'cause the latter sure doesn't seem to be inspiring any offers. When it first hit the market in 2009 the ask was an impressive $17.5M. After yesterday's pricechop, that's down to $11.95M. Still healthy, but a little more than 30% off the original pricetag.

Set on two south-of-the-highway acres, the 8500 sq. ft. home was built by Jeffrey Collé (readers should be familiar with that name for a few reasons) more than a decade ago. In 2000, it was purchased by Goldman Sachsite Alan G. Mnuchin for $5.35M. While we're sure he would love to say he more than doubled his money, that doesn't look to be in the cards for Mr. Mnuchin. Any guesses as to what this place will finally end up selling for?

Listing: 8 Hither Lane [Corcoran]