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Eugene Futterman-Designed Contemporary Is Listed At A Loss

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The last time this south-of-the-highway contemporary changed hands it did so back in November of 2008 for $999K. The buyer?an interior designer from Manhattan?must have thought it would be an easy flip because she put it back up for sale about five months later for $1.295M. The price was lowered once before (to $1.199M), but it's now gone even further south. The new ask? $995K. Ouch.

Designed by the late Eugene Futterman ("one of the region's most prolific architects"), the home is situated on .58 acres and sits next to a reserve. It was recently renovated and "offers an open loft-like second floor living room with wood burning fireplace that shares the dining and kitchen areas." No pool, but there is a permit in place for one.

The only other time we mentioned a SOH residence for under $1M (also in Bridgehampton), some in-the-know Curbed readers did an excellent job explaining why it wasn't worth it. So, if anyone's got any first-hand info about this particular listing, feel free to weigh in.

Update: That pool permit is definitely questionable. The owner has been trying to get a variance to build one for quite some time and has been repeatedly denied.

· Listing: Futterman Design Contemporary [Town & Country]