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Southampton 11-Bedroom Gets Chop #6, Now Asking $6.9M

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At its highest price in 2009, this 1-acre spread on Lake Agawam in Southampton Village was asking a hefty $14M. However, in the years since first hitting the market, the owner has sliced more than 50% from the original ask. The seller is now hoping for a more realistic $6.9M. And what does almost $7M buy on South Main Street these days? A whole lotta house, that's what.

Weighing in at 7,000 sq. ft., the 11-bedroom Victorian offers high-ceilings, various porches and decks throughout its three stories, a paneled library, a large butler's pantry with original cabinetry, nine bathrooms, a sunroom and even an indoor swimming pool and sauna in the finished basement. There's also a four-bedroom/four-bathroom caretaker's cottage that dates back to 1825 on the grounds.

Though it's too early to tell if this new price will be able to entice a buyer, the listing is now dangerously close to being valued for the land alone. Think anyone will bite?

Of Note: Corcoran's currently got it listed at $150K for a seasonal rental. Some of the interior shots they provide might be a good indication of why it's been on the market for so long.

· Listing: 257 S. Main Street [Hamptons Realty]