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Water Mill's Villa Maria Back on the Market at $49.5M

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Villa Maria, the beautiful c. 1910 estate in Water Mill, formerly a retreat for nuns, was purchased back in 2005 by Nine West founder Vince Camuto for $35 million. Then the Camutos put the house and the entire 15-acre spread through six years of total renovation. It has been on and off the market for years now; originally asking $100 million (a price "open to discussion") back in 2008. Now, the 22,000-square-foot main house, which boasts 11 bedrooms "including a 6-room beautifully appointed master suite, a handmade stone and wrought iron staircase, [and] a 60 foot living room with original fresco details," along with 7.6 acres can be yours for a mere $49,500,000. Are the Camutos planning to subdivide the other 7 or so acres?
· Villa Maria [Sothebys]
· All Villa Maria coverage [Curbed Hamptons]