Views from this property are fantastic: from Star Island, around to the East Lake marinas, straight across to the Montauk Lake Club and down to the South Lake public beach access. As for the house, while a lot of people would look at it and think "teardown," we're not sure we agree. A little renovation and some fun midcentury furniture would make this place super-cute. However, it is actually pretty small at 1600sf, with four bedrooms and two baths. Too small? Permitted plans for a 3500sf modern Robert Young-designed house (with pool) are included in the price. There are actually two separate plots with this 1.76 acre property, one which is partially underwater (riparian rights!), where you could moor your boat. The second is an empty lot, which could probably accommodate a smaller guest house. And now that the price has been chopped down to $3.795M, in line with comps, there's plenty of scope for creating a dream compound.
· Privacy And Perfection On Lake Montauk [BHS via HREO]