2.7 Acres Near Ocean in Wainscott (Plus House) for $15.5M

The main point of this property is that it's four separate parcels of buildable land, which together comprise 2.7 acres. 2.7 acres is a decent size property, but hardly unprecedented. But maybe we're wrong, as the brokerbabble states:

Very rarely do 4 single and separate contiguous parcels of land become available so close to the ocean. Endless possibilities abound to create a world class estate or family compound.

One parcel, 0.6-acre, has a fairly nice vintage home on it, 3500sf with four bedrooms and four and a half baths, apparently decorated by Stop Me Before I Wallpaper Again. Adjacent to that is a gunite pool. This house, the listing suggests, could be the guest house to the new house buiilt on the adjoining 1.1 acre lot. That lot also contains a "gorgeous sunken formal English cutting garden with dozens of varieties of flowers/berries/herbs and a fountain in the center." But what about your housemaids and footmen? The listing muses, "Perhaps a residence for staff could be built on the adjoining .5 acre lot." There is yet another vacant half-acre lot, maybe for the tennis court.

Anyway, while all this is nice, we think $15.5M is too much. There are other similar sized properties in Wainscott for less. What do you think?

· Stunning Opportunity - 2.7 acres [Sotheby's]