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2.8 Acres on Lily Pond Lane in Contract

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Someone got a good deal on this property; last asking price was $19.45M. No pictures of the house means it's probably got a date with a wrecking ball, although it's sizeable enough with 4500sf, five bedrooms and 5.5 baths; there's also a two bedroom guest house and a pool house with two changing rooms and two baths. Most importantly, there's 2.8 acres of property just one house from the ocean on the south side of Lily Pond Lane. The property sold in November 2007 for $17.5M, and while we're too lazy to do the math, the owners have probably lost money, what with agents' fees, upkeep and inflation. Next door, 6 Gracie Lane, sold for $20M two years ago, and while that house isn't a teardown, the property is more than half an acre smaller at 2.22 acres. So congrats, new owner.
· Lily Pond Lane, East Hampton [Sotheby's]