This vintage cottage (and we do mean vintage: check out the macrame) needs a lot of updating into the 21st century, but the location is great. It's right on Peconic Bay with your own sandy beach, and on the other side of the property is a protected dock on a cove into Cold Spring Pond. Plot size is 0.42 of an acre. The house itself is pretty small at 1248sf, although it somehow manages to pack in five bedrooms, so it might be easier just to bulldoze it and start new. The asking price would probably have to come down, though. The property at the end of the peninsula, with a much larger, newer house with a pool, sold about two years ago for $6M.
· Open Bay Beach Front With Cove Side Dock [Corcoran]