One week after a recordbreaking sale for residential real estate in the United States, at 60 Further Lane, comes the news that the house next door is up for a foreclosure auction June 10. It's been a long time coming: 4.5 years ago, we wrote about the threat of foreclosure to 80 Further Lane. Back then, $8.5 million was owed on the mortgage. Now $10.5 million is owed on the 1.8-acre property. This is the most valuable foreclosure ever on the East End. The house is 8100sf and has eight bedrooms and five bathrooms. Of course, it's much smaller than 60 Further Lane and not oceanfront. How much do you think it will sell for?
· Hamptons Home Up for Foreclosure That May Set Record [Bloomberg]