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Egypt Lane gambrel returns to market 18 months later, $5M cheaper

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By the Maidstone Club

There’s a lot to like about this property, such as the attractive views of the Maidstone Club, which surround the 2.54 acre property on three sides. There are also waterviews from the house to Hook Pond, and the property is only about 1700 feet from the ocean. The house itself is a spacious 5600 square feet, with six bedrooms and seven baths, including a downstairs master and an upstairs master, as well as a sleeping loft for the kids. The kitchen features a fireplace for cooking and a nice breakfasting area, while the formal dining room can seat 12.

Now the negatives. When the listing entered the market in May 2015, one commenter wrote, "And the location, while triple prime in a sense, is extremely heavily trafficked and the walk to the beach gets you to Maidstone which, if you’re a member, fine, but otherwise not the beach I’d choose." Another commented, "Let’s start with the fact that the house is on a busy corner, as another commenter has noted. Then consider that the pool is about 20 feet from the road, and you will not be able to relax by the pool without hearing and smelling the passing traffic, which is considerably heavy during the summer. Why is the pool 20 feet from the road? Because a big chunk of the 2.54 acres is wetlands, unusable."

Consensus was that this property offers a lovely home, but not as good a location. The other issue back then was the price, which was $21.5M. Now the ask is $16.8, which is much more realistic. Do you think the property will sell soon at that price?

Maidstone Club

50 Old Beach Lane, East Hampton, NY 11937 Visit Website