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Water Mill Estate Gets A $2M Chop, Now Asking $12.5M

[Aerial photo by Alex Ferrone]

Over the weekend, this massive 13.6 acre estate in Water Mill was introduced to the pricechopper's blade to the tune of a cool $2M. Nothing's changed about the home since we last wrote about it?four of the bedrooms still have ocean views, it's still bordered by 25 acres of nature preseve, and the swimming pool, tennis court and bocce court haven't gone anywhere?but the new pricetag is making the already attractive manse is look even moreso. Think this 14% drop will get the job done or will this 11,000 square footer need another chop or two before finding a buyer?

· Listing: Majestic Water Mill Hilltop Estate [Sotheby's International Realty]