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$980K In Napeague: Four Bedrooms, South Of The Highway


Where: 47 Osprey Road, Napeague
Price: $980,000
Sale Date: January 26, 2012
Bedrooms/Baths/Sq. Ft.: 4/2.5/2000
Acreage: .17
The Skinny: If our Google Fu hasn't steered us in the wrong direction this morning, this four-bedroom beach cottage has a surprising new owner: former CBRE NY executive and current president/CEO of Brookfield Office Properties’ U.S. commercial operation Mitchell E. Rudin. We say "surprising" because it's an incredibly modest home for a man responsible for real estate projects costing hundreds of millions: Not much acreage, four bedrooms, and only 2000 sq. ft. Maybe Mr. Rudin is more interested in pursuing the quiet life when escaping the city than impressing his colleagues? Or perhaps he just thought he was getting a good deal. When the home first hit the market in 2010, its then-owner (John Breslin) was asking $1.5M. A few years and a few chops later, he ended settling for just over 2/3s of that. Quite the discount.

Apologies for the squished video. It doesn't seem to agree with the Curbed Hamptons layout. However, if you make it "full screen" it should be fine.

· Listing: 47 Osprey Road [Prudential Douglas Elliman]