$3M taken off the price of this waterfront Water Mill estate from 1925

The price is slowly coming down on this Georgian-style red brick country house

By Grace Cassidy May 1, 2018, 9:15am EDT

Described in the Sotheby’s listing as a “Georgian-style, red-brick ‘country house’,” this 7,000-square-foot waterfront Water Mill home—originally built in 1925—has just taken $3 million off its asking price. After the price cut, the 5.27-acre estate is now available for $22.5 million under Sotheby’s International Realty agents, Harald and Bruce Grant.

Back in 2014, the home listed for $27.5 million before receiving its first price cut nearly two years later, which brought it down to $25.5 million. After nearly four years on the market, $5 million has been shaved off the price of the home.

In 7,000 square feet of living space, the estate has eight bedrooms, six full bathrooms, and one half-bath. Designed by architects Goodwillie and Moran, the home is accessed by a tree-lined driveway and features wood-trimmed front doors, an eat-in kitchen, an enclosed porch, and a walnut-paneled living room. On the second floor sits a family room with a porch that was originally intended for outdoor sleeping.

The master suite has bay views, an open-air porch, and dressing room.

Outside, there’s a three-car garage, an outdoor dining porch, a pool, dock, and 300 feet of water front on Hayground Cove, which leads into Mecox Bay.

When we first featured the home back in 2014, commenters had mixed feelings on the design. One commenter said that the home “feels so terribly formal, would not be out of place in Virginia horse country,” while another felt that it was a “big place, but not pretentious.”

Now that $5 million has come off the price, what do our readers think? Will the price entice a buyer?

For more than five acres of water front land (even though it’s on Hayground Cove and not the more sought-after Mecox Bay or Atlantic Ocean), we don’t think that the price is all that bad. Then again, if someone wants to tear the house down and rebuild, then there are a lot of additional expenses to be considered. Tell us what you think in the comments.