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Endless Ocean Views in Montauk Now $500K Less

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When we first looked at this beach cottage back in January, we thought the price seemed a little high at $8.75M. Now after a few months on the market, the owners have wielded the pricechopper, slashing $500K off the ask. It's still a great property: an old-school (built 1963) Montauk beach cottage. It's small at 1800sf, but there are beamed vaulted ceilings and lots of large windows and French doors for ocean viewing. We think the living room with its fireplace and built-ins is particularly cozy. Outside is nicely landscaped with hydrangeas and ornamental grasses. The stairs to the ocean beach lead to a private cabana, so you don't have to lug down beach chairs and umbrellas. The property size is 0.89 acre; there isn't a pool but there is room for one. There's also a guest apartment over the garage. Will this price cut do the trick in attracting a buyer?
· Old Montauk Oceanfront [BHS]
· Endless Ocean Views from this $8.75M Montauk Beachfront Cottage [CH]