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Water Mill's 200 Bay Lane Sells For $15.1M, J-Lo Not The Buyer

After entering into contract at the end of March, this seven-bedroom John Laffey-design has now closed. Final purchase price? $15.1M?about 16% off the original ask of $17.995M.

Readers will recall that the star of Gigli and one-time Fly Girl, Jennifer Lopez, was rumored to have been interested in the 14,000 sq. ft. residence back in September. While we did receive an anonymous tip that the American Idol judge was behind the purchase, a source close to the deal revealed that the Fiat-lover did not, in fact, buy the place. Perhaps she's still interested in the Peter Cook-designed eight-bedroom on Georgica Road.

· Listing: Mecox Bay Estate - Water Mill [Sotheby's International Realty]