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Amagansett's 20 St. Mary's Lane Has Found A Buyer

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It looks like living near a feral cat colony (or next to the "Windmill House") wasn't a dealbreaker for the soon-to-be-buyer of this Amagansett beach house. The Sotheby's listing recently switched over to "Under Contract" almost exactly one year after hitting the market.

While the four-bedroom required a little more than $1M in pricechops?it was most recently listed for $3.2M?before someone agreed to buy the place, the sellers are in a fantastic position to come away with a nice profit. Somehow, they were able to purchase the 1.1 acre property in 2006 (near the height of real estate bubble craziness) for just $500K.

· Listing: St. Mary's Lane, Amagansett [Sotheby's International Realty]