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Poxabogue Pond in Sagaponack cuts $15.5M from asking price

From $65M to $49.5M

When the Sagaponack properties at 18, 20, 24, 32, 36, and (are you tired yet?) 40 Poxabogue Pond Road—more commonly referred to just as “Poxabogue Pond” for simplicity—came on the market together for $65 million in September of 2016, Curbed called the price “aspirational.”

The price of the compound was just cut by a stunning $15.5 million—bringing the price from $65 million down to $49.5 million under listing agent Paul Brennan of Douglas Elliman.

The compound is waterfront on Poxabogue Pond, and includes not only 32 acres in total, but 18 acres of reserve. There are three vacant building parcels and three existing pond-front homes.

Currently, the homes belong to the three sisters that own the property. The reserve is leased to a farmer for growing corn.

What do you think? Will the price change incite a buyer?