Yes, this is what an old-school Hamptons estate should look like. Wabossagock (Native American for "Freedom Point") was originally built in 1896; it was struck by lightning in 1900 and burned to the ground, whereupon the original owners rebuilt it exactly as it was. There are four acres on the water, with the main house, a guest house (formerly a stable and windmill), a croquet field with pavilion, gunite pool, three car garage and a boathouse at the water's edge. The boathouse has entertaining rooms plus a porch that juts out over the bay and a floating dock. The lighthouse-shaped guest house also has party rooms.
The main house is 6500sf with six bedrooms and eight and a half baths on three floors. It's charming with plenty of old-fashioned details and nooks and crannies and of course there are gorgeous views to the bay, all the way to Dune Road. As for the price, this estate is unique, but our feeling is that it's in the ballpark. We're not sure why the owner, Toys "R" Us founder Charles Lazarus, is selling, but given that he's 92, it's possible that he and his family doesn't use the estate much.
· Wabossagock [BHS]