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4 Acres in Sagaponack Will Have Its Third Owner in Two Years

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Ah, rich folks. Their tumultuous lives always make for a lively real estate market. In the case of this Sagaponack property, it was put on the market in March 2012 asking $21.5M, and we were flummoxed by the ridiculous price. We speculated back then that the house, owned by Laurence Zimmerman, was in some kind of foreclosure trouble. It sold for $14M by February 2014 to Laura Santos and Kevin Ulrich, a hedgie and an interior designer. By last summer, the couple were splitting up, and Kevin Ulrich was buying Ms. Santos out of the property for $7,320,061.

Update: despite the fact that the property is listed at Sotheby's in contract, it's actually not on the market again yet. We can only hope the patterned carpeting will be gone when it is. The property is on the market again, asking $14.5M, and it's in contract. No word yet on the final price. The interiors look like they could use a good decorator, though.

· Five Bedrooms On 4.3 Acres In Sagaponack For...$21.5M? [CH]
· 4+Acre Estate in Heart of Sagaponack [Sotheby's]