Real estate is all about tradeoffs. In this case of this property, there's a prestigious Meadow Lane address, but it's on the "wrong" side (bay side) rather than oceanfront. The house is right next to a public beach parking lot, but it's not a very big lot. There is 1.7 acres of bayfront land, but given the inlets around the house, it may not be possible to build a pool. The house is 3200sf, with five bedrooms and four baths. It's a perfectly acceptable house; it's nothing that exciting and it needs some updates but is basically fine. All in all, we think $5.85M is a reasonable asking price; of course, we thought the same for the oceanfront teardown directly opposite this property, which hit the market in March asking $16.5M, and that place hasn't sold yet either.