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436 Gin Lane Has Its Price Chopped Again

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In its three months on the market, this house has had its price chopped by 20%. Clearly, the owner wants to move on as fast as possible. Given that the owner paid $18.3M for the house back in 2006, s/he is going to take a bath on the property after commissions and closing costs. We understand the owner of this property is hedge fund manager Scott Bommer. We've also heard that neighbors have been complaining about the lack of upkeep to the place and that the owner was planning to tear down the house.

As before, this property offers an historic beach house from the early 1900s, with a rather odd Philip Johnson glass box addition stuck on the side, with eight bedrooms and six and a half baths. There's also a rather amazing dunetop pool and a three bedroom carriage house for staff or guests. It's 1.5 acres with 142 feet of oceanfront. Will someone decide to make this a holiday gift to themselves?
· Superb Gin Lane Oceanfront [Sothebys]
· All coverage of 436 Gin Lane [Curbed Hamptons]