Just two and a half years ago in May of 2015, the traditional style home at 157 Egypt Lane in south-of-the-highway East Hampton was listed for a whopping $21.5 million. A little over a year later, the estate cut its price by nearly $5 million, putting it at $16.8 million. Yet another year has past, and the home has relisted and received another price cut, putting it at its least expensive listing yet: $13.25 million.
Something that our readers pointed out about the corner lot property was that while the home may be incredible, the location isn’t something to be wow’d by. One reader said that it’s “heavily trafficked,” while another added that “...come July, that intersection is nothing by runners, bicycles, beach-goers walking directly out from town, cars and service trucks.”
So while we have the negatives of the location out of the way, let’s look at some of the things that the property will afford its resident. First off, it’s on two and a half acres of land that sit south of the highway in one of the most sought-after sections for real estate of the East End. Second, the property is surrounded on three sides by the Maidstone Club. And lastly, there are views of Hook Pond and a golf course, and it’s less than 2,000 feet from the ocean.
Built in 2014, the 5,600-square-foot estate has six bedrooms, seven bathrooms, and is move-in ready, according to the listing. Interior features include a chef’s cooking fireplace in the kitchen, a Sonos sound system, and two master suites.
We want to hear from our readers: Do you think that the second major price reduction will give the home what it needs to sell?
- East Hampton Home Bordering Maidstone [Brown Harris Stevens]