Further Lane home in East Hampton cuts more than $7M in just one month

It got its first price change since coming on the market over two years ago earlier this month

By Grace Cassidy Oct 30, 2017, 10:00am EDT

Earlier this month, the 4,500-square-foot home at 40 Further Lane in East Hampton was featured on Curbed after its first price cut since coming on the market over two years ago. In May of 2015, the home was asking $26.5 million.

Earlier this month, $3.55 million was taken off the asking price, putting it at $22.95 million. But just last week, another $3.5 million was cut—meaning that in just one month, over $7 million came off the price of this five bedroom home which was once part of the famous Maidstone Club.

Now, the home is available for $19.45 million under Brown Harris Stevens listing agent Martha Gundersen.

Situated on 2.4 acres of land, the home has five bedrooms and five bathrooms in 4,500 square feet of living space. Inside, there’s an entry foyer, eat-in kitchen, formal dining room, two walk in closets in the master bedroom suite, three ensuite bedrooms on the main level, and a fully finished lower level with wet bar, gym, theatre, and guest bedroom.

Outside, there’s a heated gunite pool, pool house with full bathroom, mature landscaping, and room for tennis.

Built in 1907, the home has undergone extensive renovations since the last owner purchased the property in 1996 for $1.8 million. Despite the renovations, many of our readers thought the asking price was ambitious—especially considering what it last sold for.

Granted, it last sold over 20 years ago, the jump in price seemed incredibly high. Maybe coming down under $20 million is what the home needs to sell—but tell us what you think this home needs to be priced to incite a buyer in the comments.