Traditional Summer Cottage in Southampton Now $5M Cheaper

This old-school summer mansion hit the market back in August with an asking price of $37.5M. Just over three months later, it's had a pricechop of $5M, down to $32.5M. Our suggestion: while the décor is lovely, it's way too Mario-Buatta-80s-clutter to appeal to 2015 eyes. Tone it down and pare it back. Commenters back in August said the place was lovely, if a bit too Park Avenue, and they predicted a final price in the low 30s or 25. Guess we'll see if a buyer bites at the current ask.

The history of this 12,000 sq. ft. house is interesting, as it's one of the original "summer cottages." Set on 4.6 acres, this 11 bed, 12 bath, and 3 half baths estate has a lot going for it. And for the cheetah-loving buyer (at least we think that's a cheetah), this house is surely a temptress. Over height ceilings and distinctive architecture define a space that is steeped in history. It would be pretty cool to say that your new residence was previously owned by the nephew of industrialist Andrew Carnegie. Talk about cocktail party gold.

· Classic shingle in Southampton. [Sotheby's]
· Traditional Summer Cottage in Southampton Hits the Market [CH]
· Summer cottage in Southampton. [TRD]