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Sold Stuff

Oh, how the mighty (overpriced) have fallen. When Water Mill's 186 Crescent Avenue hit the market in the summer of 2010, Doubleday publishing CEO John Sargent was looking for a truly absurd $40M. After chopping more than $20M off the initial ask, the home finally found a buyer at the end of last year. It was only recently that we learned the final purchase price, though. And just what did River Rock Structured LLC end up paying for the place? $13.75M. Oof. [Hamptons.com]