East Hampton home once part of the Maidstone Club cuts $3.55M from price after two and a half years on the market

In May of 2015, the home at 40 Further Lane in East Hampton hit the market for $26.5 million. More than two years later, the home has just received its first price cut, taking $3.55 million off the asking price, putting it at $22.95 million.

Built in 1907, the single-story home was once part of the prestigious Maidstone Club. Standing 4,500 square feet in size on 2.4 acres, the home has five bedrooms and six bathrooms. The home has been modernized, having had a complete renovation—including the finished lower level. The lower level features a kitchen, bedroom, full bathroom, home theater, and laundry room.

There are wood-burning fireplaces in the living room and the formal dining room, as well as a gas fireplace in the master suite. Outside, there are gardens, a heated saltwater gunite pool, pool house, decking, and a three-car garage. An elevator services the main and lower level.

The property last sold in 1996 for $1.8 million. Since then, the home has gone through renovations and updates. Further Lane sits south of the highway, and while the home is not oceanfront or even ocean view, it is located only a half-mile from Egypt Beach.

• 40 Further Lane [Halstead Property]