The least expensive home for sale on Parsonage Lane is in contract

Sagaponack’s Parsonage Lane is known for its pricey real estate. Most of the homes for sale on Parsonage have eight-figure price tags. The most expensive home for sale is an eight-bedroom, 11-bath estate at the 550 address, asking $24,995,000.

The least expensive home for sale is at the 491 address. The 2,000-square-foot home went up for sale in May of 2015 for $5,495,000. In May of 2016, the home saw its first price cut, coming down to $5.25 million, and then just two months later, the home got one more cut to $4,875,000.

As of June, the home has had a pending offer under that asking price.

Built in 1975, the home has three bedrooms and two bathrooms on 1.3 acres of land. The home has a double-height living room, large windows, wide-plank floors, a fireplace, and outdoor shower.

All photos, Corcoran

• 491 Parsonage Lane [Corcoran]