Has Rollercoaster Pricing in Montauk Scared Buyers Away?

We originally brought you this 7,000 sq. ft. house at 42 Old Montauk Highway more than 6 years ago. This 5 bed 4 bath estate has had quite the interesting pricing history. Please note, we emphasize the phrase asking price, because the property has not actually changed hands in a long time. According to Zillow, the house was originally listed at $35M in 2008. There were no takers, and the sellers increased the price to $50M in 2010. Huh? After no traction, the property was removed from the market in 2011. Well, that's much ado about nothing. The Zen like house (wait, is Zen a kind word for dated?) just hit the market yet again for just under $50M.

So much drama surrounds this asking price. But, we're curious if the sellers think their 35.5 acres will look like a bargain next to their neighbor's pricey pad that's being marketed for $85M. Plus, let's not forget the custom engineered steel in this house withstands 150 mph winds. That's serious construction! And, radiant heated marble flooring throughout with a path to your own beach and pond are some pretty swanky amenities. But, we're still hung up on that ask. They've never gotten their $50M price tag. Are the sellers dreaming? Please let us know what you think!
· Zen in Montauk. [Corcoran]
· 42 Old Montauk Highway. [CH]