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$19.9M Gin Lane Teardown in Contract After One Month

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Last month, two adjoining properties on Gin Lane were put on the market. We suggested someone buy both for $45M, but apparently not, because 450 Gin Lane, the larger but cheaper property with the teardown house, is in contract and 436 Gin Lane next door is not. More than two acres on Gin Lane, with 265 feet of beachfront and Old Town Pond on the other side of the property, is a good deal for $20M—no wonder someone snapped it up so quickly. Wonder what they'll build there?
· 450 Gin Lane [Corcoran]