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Eight-Acre Oceanfront Sagaponack Property Now $4M Less

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Is it low enough?

This eight-acre parcel, with main house and guest house, has been on the market for just about a year. In March 2015, the asking price was $33M; now it's been cut to a mere $29M. The property sold in the autumn of 2014 along with the adjacent 23-acre farm, but the buyer only wanted the farmland, so this place was then put on the market. The buyer paid $27M for the eight acres.

The property offers, of course, great views of the ocean and Sagg Pond. The main house is 6000sf, and together with the guest house, there are ten bedrooms and eleven baths in all. The house is fairly underwhelming inside, but we're sure a good designer/architect could make something out of it. The duneside pool and lounging area are spectacular.

One downside, although we're not sure how important it is, is that the property is next to Sagg Main Beach. With eight acres of land, maybe there's enough of a buffer between this place and the hoi polloi.