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Historic Water Mill House with Windmill and Dock Sells

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When this beauty hit the market back in July 2014, everyone swooned, with good reason. This estate has it all: seven-bedroom early 1900s house, check. Four-story windmill (what, you don't have one?): check. Six acres of land: check. Five-bedroom guest house: check. Brick-walled tennis court: check. Pool: but of course. Water: glad you asked! There's 500 feet of waterfront with dock right on Mecox Bay. Lovely gardens, patios and terraces; historic details in the house, including beautiful leaded windows, early millwork, and beautiful views.

The only problem? The asking price of $38.5M. Commenters agreed that for that much money, they'd prefer oceanfront. "Beautiful! Glad to see there's plenty of turn-of-the-century charm remaining. The grounds are gorgeous. It's not how I'd spend my $40mil--I want oceanfront for that--but for someone who needs an estate that can accommodate serious entertaining, this is pretty perfect." "A piece of Water Mill's past still surviving today--and into the future. How wonderful, I say! The view is awesome--plus less worry during hurricane season." And "I too would prefer ocean front for my untold zillions. But this place is wonderful."

Last asking price was a much more reasonable $28M. Congrats to the new owners: you have wonderful taste.
· Historic Water Mill House with Windmill and Dock for $38.5M [Sothebys]
· 326,328,332 Cobb Road [Sothebys]