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Score a bargain at a north Water Mill property auction

New build

This nine (!) bedroom new-build, on Blank Lane in northern Water Mill, has been on the market for about ten months. Asking price is $5.25M. However, it will be auctioned off to the highest bidder on October 28, as long as someone bids $3.9M or above. (That’s a little over 25% off the current ask, for those bad with math.)

So what do you get for that? A 7000 square home on 1.14 acres, with a junior master on the first floor. Upstairs, "the guest rooms are all ensuite and each has a different layout and roof line giving each guest a unique experience." The lower level offers a gym area, "sizable movie theater," and a second laundry room. Outside, there's a 16 x 50 saltwater pool with inset spa and a pool house with a kitchen, bath, and outdoor shower.

So far, so good, although we will note that when the property was on a CH Pricespotter post, commenters were fairly savage. Comments ranged from "Hideous." to "Snooz-athon.... same fixtures and features in every new build. Why hire an interior designer??" to "A veritable gypsum board paradise. Maybe a Wall St techie will see the value." Eh, we thought the place was fine.

Interested? You can participate in the property auction via Concierge Auctions’ custom mobile bidding app Instant Gavel, which allows bidding in real time from anywhere in the world.