It took almost $1M in pricechops, but this six-bedroom located on East Hampton's Egypt Close has found a buyer. The home languished for a bit after hitting the market for $4.85M in September of 2010. A change of agencies and a few pricechops ended up getting the job done, though. It's still too early for a final purchase price, but the length of time on the market leads us to believe the seller settled for something less than the most recent ask of $3.95M.
Readers might recall that another Egypt Close property, #51, changed hands at the end of last year for an even $3M. While that was a definite teardown, this particular listing looks to be in reasonably good shape (save for that insanely dated kitchen) and might be spared the wrecking ball. The 5000 sq. ft. residence is set on almost a full acre and offers a great room and dining room that divide the home's bedrooms into two north and south wings, making this "perfect for large families and guest[s]." Fortunately, their soon-to-be new neighbors are far enough away that the sounds of construction shouldn't be too overwhelming.
While the kitchen is almost comically bad, we're really digging the rest of the house. Thoughts?
· Listing: 18 Egypt Close [Prudential Douglas Elliman]