It’s been on the market for two years now and yet no one has bitten on the Montauk harbor compound owned by the Entenmann family. The price, originally $24.95M, was cut to $18.95M, and has just had another million chopped off, down to $17.95M.
Maybe buyers just need help envisioning what could be built here. There's almost seven acres of land on four adjacent parcels, right on East Lake Drive, walking distance to Gin Beach. Two of the lots are empty, while one has warehouses, a 150' dock, a boathouse and a two-bedroom apartment; another has a recently built two-bedroom cottage. While of course the property could be used commercially, a spectacular estate could also be built here, accessible by land, sea, and air. (Montauk Airport is just down the road.)
- 521 East Lake Drive Montauk [Corcoran]