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Seven-Bedroom Bridgehampton Estate Ups The Price By $4M

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The owners of this 8000 sq. ft. home must have missed the memo that it was pricechop weekend in the Hamptons. After putting it on the market last September, Ellen Chesler and Matthew Mallow?a Senior Fellow with the Roosevelt Institute and a retired Manhattan lawyer, respectively?have decided to up the ask by $4M. The pricetag now? A cool $32.5M.

We've never been able to understand the rationale behind responding to the lack of a buyer with a price increase (especially in the current economy), but it does happen from time to time. Anyone care to offer an explanation for this baffling practice?

Update: It looks like there's a good reason for the new price. The listing now includes a second, separate 2.7 acre building parcel in addition to the original 4.7 acres.

Exquisite Bridgehampton Estate [Saunders]
Previously: A 7-Bedroom Bridgehampton Country Estate for $28.5M [Curbed Hamptons]