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Let's Gossip About Land on Georgica Pond

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Sources whisper to us that there was recently a bidding war on two prime waterfront acres on Georgica Pond, address 11 Association Road, Wainscott. Asking price was $7M; final bid was in the region of $8.5M. Meanwhile, across the pond, there are another two acres for sale in East Hampton at Chauncey Close on Georgica Cove.

Price there is $14.995M. Plans and permits are in place for a 10,000sf house on Chauncey Close; we don't know about Association Road. Reasonable? Is it worth an extra $6.5M just to be in East Hampton and closer to the ocean? You tell us.
· Incredible Georgica Pondfront Property [Corcoran]