Charming East Hampton Traditional Has First Visit to Pricechopper

This rather nice property hit the market right after Labor Day. There are lots of great features, but most people thought the asking price of $7.5M was pretty ambitious. Now it's been cut $550K, down to $6.95M. One commenter wrote, "It's one of my favorite streets. It looks a bit cluttered to me, that's a lot of furniture, but a nice house. Could use some tweaking (at some point that Carmela Soprano bathroom would have to go), but I think it will sell over 6.5. And I'm not a broker." "Way, way over priced. 5 tops."

Price aside, the good points of the property include its attractive south of the highway village location. The house is spacious at 4600sf but not enormous, with five bedrooms and 5.5 bathrooms. It offers vintage charm, but it's updated, renovated and stylish, and the grounds, which are 0.62 acre, feature mature gardens and trees. There's a 60' pool with pool house and a dining pergola covered in wisteria. How low will the price have to go?

· East Hampton Village [Sotheby's]