Oceanfront Sagaponack property last asking $11M goes into contract

It was once listed for $13.5M

By Grace Cassidy Nov 28, 2018, 8:44am EST

Once asking $13.5 million, the 0.62-acre oceanfront property at 41 Gibson Lane in Sagaponack has found a buyer and gone into contract. It was most recently on the market for $10,995,000.

There is a 1,189-square-foot beach house on the property that was built back in 1890, but it will probably get torn down to make room for a bigger and more modern house.

However, if by chance the new owners choose to keep and renovate the existing structure, it has three bedrooms and three bathrooms, hardwood floors, wood-beamed ceilings, and an oceanview sundeck.

In 2006, the nearby 2.6-acre oceanfront property at 159 Trees Lane sold for $6.1 million. We’re curious to see if 41 Gibson sells for the most recent $11 million asking price. What do our readers think? Leave your thoughts in the comments.

Douglas Elliman agent Kevin Well represents the listing.