Looks like brokerbabble's warning that "this property will not last" finally came true?and all it took was shaving about 25% from the home's asking price during its year and a half search for a buyer. After initially hitting the market for $7.6M, the listing saw five pricechops before a leaner $5.7M pricetag was able to drum up a sale. Quite a step down, but the owners still have the chance to come away with a nice little return. They shelled out $4.25M for the place back in 2003.
As always, your guesses for the final purchase price are welcome in the comments.
· Listing: Green Hedges, Southampton [Sotheby's]
· Listing: 288 Halsey Neck Ln - Southampton Village [Prudential Douglas Elliman]