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Stately Southampton Village Beauty Sells for $3.5M

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We can't help thinking someone nabbed a bargain with this truly gorgeous house. It went up for sale a year ago, with some confusion about the owners—originally it was said to belong to designer Kate Spade, but then it turned out Ms. Spade owns the house north of this one. Originally the price was $5.4M, then it dropped to $4.75M, then $4.495M, and then it closed a couple weeks ago for nearly a million less. Of course, we don't know the condition of the house.

This c. 1892 eight-bedroom residence used to be the boardinghouse in William Merritt Chase's art academy and is the largest house, at 6500sf, in the Art Village. Besides the main house, the property boasts two separate cottages, a ballroom/art studio, and a two car garage. With almost three acres of lovely gardens, there's room for a pool and a tennis court. This is the epitome of old-school elegant Southampton.
· Southampton Historic Art Village Offering [BHS]