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Original Devon Colony mansion still on market after 2.5 years

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Procter & Gamble heiress has lowered price twice on family summer home

Think of croquet on the great lawn. Lemonade served by uniformed staff. This historic home harks back to a time when the wealthy founders of Procter & Gamble made the Devon Colony their summer enclave away from their home base in Cincinnati.

One of only five Devon manses, it has been on the market since 2014 and we’re wondering why. It started out at $13M in 2014, went down to $11.5M in 2015 and has stayed at $9.3M since last May.

Built in 1910 by Devon Colony founder Richmond Levering, the rambling 6-bedroom residence may only have three bathrooms and two half baths, but we’re thinking that making more shouldn’t be a problem. And yes, the flow might be a bit cumbersome for today’s tastes, but it is perched on five acres—count them, five—high above sea level on the Amagansett Highlands.

Since it has stayed in the family, many of the home’s original architectural details—from decorative columns to a tiled fireplace in the living room—remain undisturbed.

The first floor also features a formal dining room and family room. Outside is a parterre garden—what else would you expect?—and elevated brick patio with decorative fountain. There’s also a heated Gunite pool, tennis court, guest cottage and newly renovated art studio. If you buy it, please invite us over for a game of badminton, and an old fashioned, of course.