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1.5 Acres on the Ocean in Sagaponack Sells for $13M

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This rustic 900sf two-bedroom has been kicking around as a rental for a while; it was put on the market last November asking $13.5M, and was pricechopped $550K two weeks later. Now it's in contract. We think for 1.5 acres on the ocean in Sagaponack, $12.95M is a pretty good deal. We kind of like the rustic 1930s cottage, vintage sink, scalloped trim, usable shutters and all, but we know we're in the minority. Can you hear the sound of bulldozers yet?

· 25 Potato Road [Elliman]