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East Hampton's Pathway to Heaven Returns $5.5M Cheaper

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There's something altogether heart-stopping about a private pathway to the beach. You say dead on arrival, we say deeded ocean access—it's practically the same thing. Just take a look at the this 1.46-acre property on Windmill Lane in East Hampton. A solid piece of land on its own, but totally enhanced by the private alley to the Atlantic. Think of the convenience!

Getting to the beach without having to negotiate a parking lot full of Range Rovers seems priceless. That said, Sotheby's recently slapped a $12.995 million price tag on this Frank Greenwald-designed home. We stand corrected! But we're not the only ones: Back in 2011, the homeowners originally wanted $18.5 million for the seven-bedroom spread.

· Deeded Ocean Access [Sotheby's]