Price slowly decreasing on Southampton estate after three years, now asking $13.25M

Over three years ago in September of 2014, the home at 64 Down East Lane in Southampton went up for sale for $14.75 million. After its time on the market, the home received its third price cut earlier this week, bringing it down to $13.25 million—meaning that only $1.5 million has come off the asking price since it went up for sale.

The first price cut came after just four months on the market, putting it at $14.25 million. Over a year and a half later, the price came down again—just slightly—to $13.9 million. The $650,000 that was just taken from the asking price is the largest cut that the estate has seen in its three years on the market.

Standing 7,000 square feet in size, the home has seven bedrooms and nine bathrooms on almost two acres of land south of the highway. Built in 1994, interior features include cathedral ceilings in the double-height living room, a remodeled eat-in kitchen, a second-floor master suite with a private terrace, and water views from the second floor.

Outside, there’s a pool, covered decking for dining and lounging, and a two-car garage.

Parts of the home are a bit outdated and will likely be upgraded once the new owner decides to take over. It last sold in 2011 for $7.75 million, having gone up for sale in 2008 for $12 million.

• Gracious Classic [Tim Davis for Corcoran]
• A Postmodern in the Southampton Estate Section Asks $14.75M [Curbed Hamptons]