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Norman Jaffe Back on the Market After Five Months

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Does anyone out there know what the deal is with this house? We last wrote about it five months ago. "After almost four years and three pricechops, this Norman Jaffe design has finally closed. Final purchase price? $4.5M...roughly $3M less than the seller was hoping for when they first put 'Lloyds House' on the market back in January of 2009. Here's to hoping the new owner decides to keep the place as is and doesn't intend on replacing it with a gambrel-style traditional."

Well, they didn't do that, but it's back on the market again. Sources tell us the house needs about $1M worth of work, but the buyers must have known that when they purchased it. It's still a lovely house in a great location. So what's wrong with it? Is it built on a haunted Indian burial ground? Is there a ghostly red-eyed pig wandering around? Is there at least a creepy housekeeper? (Someone cue up Bach's Toccata and Fugue in D Minor.) Ideas in the comments.
· East Hampton Village South on Further Lane [Corcoran via HREO]
· Lloyds House [Norman Jaffe Architect]
· All previous Norman Jaffe coverage [Curbed Hamptons]