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90 Wyandanch Pricechopped $4M, Down to $19.9M

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Back in July 2012, this property sold for $12.5M after a year on the market. Then the owners put it on the market in July 2014 for an eyewatering $24M, double what they paid for it. While it's an impressive place, with 4.9 acres of land, 400' of waterfront on Old Towne Pond, and multiple dwellings, we were incredulous about the asking price. Some commenters agreed: "Absurd." and "They'll be tap dancing to the fair if they get $16MM." Others didn't think the ask was so ridiculous: "A 1-acre teardown without waterfront at 35 Wyandanch sold in May 2014 for $7.5mm. So the $24mm ask for four times the land plus waterfront is not out of the ballpark." Now the asking price has been lowered to a much more realistic $19.9M.

The estate comprises four buildings: "a charming two-story gate house converted into a seven-room home, a barn renovated into a four-bedroom house, and a stable converted into a three-bedroom guest house." But they may all be goners; as before, the listing notes "this property offers the opportunity to create an unparalleled compound, with permits in place." There are beautiful old trees, a gunite pool, and a tennis court, all close to the ocean. We'll be interested to see what the property sells for this time.
· Wonderful Wyandanch 5 Acres Pondfront [Sotheby's]
· 90 Wyandanch Sold for $12.5M Two Years Ago; Now It's $24M [CH]
· Southampton's 90 Wyandanch Lane Goes For $12.5M [CH]