The shingled oceanfront fixer-upper at 644 Old Montauk Highway in Montauk has been on the market since May, at which time it was asking $8.3 million. By August, the 0.89-acre property was pending a sale, and it recently sold for a lower $7.85 million.
PropertyShark records indicate that in 2015, the property sold for $7,945,000—which means the seller sold the house at a loss.
The house that exists on the property looks to be in relatively decent condition—but we’re guessing that it’s going to be torn down to make room for a bigger new construction. The current house was built in 1949, spans 2,200 square feet in size, and has three bedrooms and three bathrooms. Inside, the cottage hosts an open floorplan, a large bay window in the living room, water views throughout, and a wood-burning fireplace.
Outside, there are private paths that lead down to the ocean and a seaside cabana, as well as a totally separate cottage with a garage below.
Chris Coleman from Saunders Real Estate represented the listing.
What do you think of the final sales price? Considering smaller oceanfront properties in other areas of the Hamptons can go for higher, we’re thinking that less than $8 million for nearly an acre isn’t too bad. But tell us what you think in the comments.
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- 644 Old Montauk Highway [Saunders]