Oceanfront Sagaponack home cuts another $2M from asking price

Now asking $26,333,000

By Grace Cassidy Aug 1, 2017, 9:00am EDT

Curbed has been watching this home’s price for a while now—the eight-acre oceanfront property at 1145 Sagg Main Street in Sagaponack went on the market back in 2015 with a $33 million asking price. But before that, it sold quickly under a $35 million asking price plus an additional 23 acres of adjacent preserved farmland.

In March of 2016, the home got a $4 million price cut, putting it at $29 million. In March of this year, it went down to $28.5 million—which isn’t very much of a change in price—but now it’s shaved more than $2 million off the asking price. It’s currently on the market for $26,333,000.

Built in 1994, the home is 6,000 square feet with 10 bedrooms and 11 bathrooms. The property has 300 feet of ocean frontage and a private pond. Its newer neighbor at 836 Sagg Main Street is asking $13.5 million, plus 870 more square feet—but on about five less acres of land, and it’s not oceanfront.

So yes, this property has more value to it than some nearby properties for sale. But does it have that much more value? Let us know what you think in the comments.