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Boom! 40-Acre Development Site Crashes Onto Market

Calling all developers! For the modest price of $12.5 million, a 40-acre Water Mill North farm can now be yours. The pristine land currently consists of two 20-acre sections, one of which must remain undeveloped. The other piece, however, can be subdivided, and already plays host to a seven-bedroom home.

The existing house benefits from extremely dramatic views, particularly from the backyard's 25' x 25' covered porch and gunite pool. And there's more! The interior offers some relaxed if not simple decor and cathedral ceilings. Makes sense since this property is a religious experience.

· Listing: Edge of Woods Farm [Sotheby's International Realty]