Oceanfront property on 36 acres in Montauk drops asking price by $10M

It’s now on the market for $29 million

By Grace Cassidy Dec 11, 2018, 9:31am EST

The incredible 36-acre oceanfront property at 42 Old Montauk Highway in Montauk that was on the market earlier this year for $48 million has just received another price cut. A price cut in October brought the listing down to $39.5 million, but after the most recent change in ask, it’s now listed for $29 million.

Sited in an extremely private location where one can’t hear any traffic, the property includes a 7,000-square-foot home with five bedrooms and five bathrooms, a 2-acre pond, meadows, trails, two natural 100-foot jetties, and 400 feet of direct ocean frontage.

The house—which can withstand winds up to 150 miles per hour—includes ocean views throughout, floor-to-ceiling windows, radiant heated floors, four wood-burning fireplaces, an elevator, and a movie theater in the finished lower level. There are also hand-carved doors both inside the home and on the exterior of the property.

Frame dealer Eli Wilner owns the property. Kathleen Coumou from Christie’s International Real Estate and Martha Gundersen from Brown Harris Stevens represent the listing.

When we featured the property on Curbed back in September and after the $8.5 millon price cut a month later, our commenters thought the ask was too high. But after the most recent change in price, what do our readers think? Leave your thoughts in the comments.