Hot on the heels of her former husband's Water Mill estate closing for almost the full amount, today we learned the final purchase price of Barbara Hearst's Sag Harbor home: $2.9M. That number, although still significant in the "real world," represents a huge step down from the original listed ask. Readers might recall that Ms. Hearst originally put the home on the market for close to $4M back in beginning of 2011. Probably not what she was hoping for, but the 25% discount is in line with most sales on the East End these days.
· Listing: Sag Harbor Cove Waterfront [Brown Harris Stevens via HREO]