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Amagansett Oceanfront Gets Chop #2, Now Asking $4.995M

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After hitting the market at the end of January, this 1700 square footer just got its second $1M pricechop. Looks like someone's motivated!

Located just four houses east of the Atlantic Beach parking lot (which may account for that motivation) and set on half an acre, the pre-WW2 cottage offers "100' of oceanfront, [a] good size yard, [an[ outdoor patio, dune top deck for endless views, and [a] private path to ocean beach." In addition to the home's original pair of bedrooms, a second living space with a loft was added in the 90s. Even with the add-on, it looks like the quarters could be a little cramped?though we don't necessarily think that's dealbreaker. Whoever ends up buying the place will most likely be spending most of their time camped out on the beach anyway.

So...do you think the sub-$5M pricetag is going to get the job done or can we expect to see more cuts before a buyer is found?

· Listing: Unique 1930s Oceanfront Cottage [Town & Country]