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2.5 years and $6M in price cuts later, formal Flying Point villa finds a buyer

Took a while!

The 2.7 acre grounds of this Water Mill estate are exquisite. The house is c. 1929, so the gardens are all old-school lovely, with mature trees, flowers, and a lawn rolling gently down to 643 feet of waterfront on Burnett Creek. There's a pool and pool house and lovely patios and terraces and a separate guest house.

Then there's the house. 4500 square foot with five bedrooms and six baths, all done in a very formal style. When the property was listed, one commenter wrote, "The landscape and the setting are absolutely gorgeous and fit the house perfectly. I would certainly not want this as my summer house personally since it feels nothing like the beach or the Hamptons, but I think it’s quite well done for what it is." Another wrote, "This house has about as much contextual integrity in the Hamptons as, well, I can’t think of anything similarly incongruous at the moment but you get my point."

Asking price back in June 2014 was $15M. Well, it's now December 2016 and the property is finally in contract at $9M. That's a long time and a huge price cut. Ouch.