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$9.45M Oceanfront Montauk House Hugs the Shoreline

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It's rare to find a Montauk oceanfront property set only 125 feet from the water—federal zoning laws no longer permit building so closely. This house is probably a teardown, but the setback is grandfathered in. According to Sotheby's, the "current building envelope could accommodate an all-new 6,000 sq. ft. home, pool, pool house and garage." The current house is only 2700sf and features liberal use of inspirational wall art. (Aren't those views inspirational enough?)

For $9.45M, you get 1.5 acres complete with an oceanside deck, a beach cabana and private stairs to one of the best beaches in the world. We think the price is pretty reasonable, given that real estate mogul Steven Roth paid $9.41M for Bernie Madoff's extremely similar house back in 2009. (That property is set on 1.2 acres and has a 150-foot setback). What do you think?
· Listing: 380 Old Montauk Highway [Curbed Marketplace]