East Hampton home near the Maidstone Club cuts price again, now asking $11.995M

Nearly $10M has come off the asking price in three years

By Grace Cassidy Jun 18, 2018, 9:01am EDT

When we featured the south-of-the-highway East Hampton home at 157 Egypt Lane, our commenters were in disagreement. Some of our commenters thought the location on the corner of Egypt Lane and Dunemere Lane—and with the Maidstone on three sides of the property—was bad, while others liked the location. Some found the home dated, while some liked the design.

But there was one thing that readers agreed on: It was overpriced.

Originally listed for $21.5 million in February of 2015, the home has come down nearly $10 million since it came on the market three years ago. It re-listed a year later in 2016 for $16.8 million, then again earlier this year for $13.25 million.

Six months after coming on the market under Martha Gundersen of Brown Harris Stevens, the 2.5-acre property has just cut $1,225,000 off its asking price, putting it at $11,995,000.

The 5,600-square-foot home designed by local builder, Craig Lee, has six bedrooms and six and a half bathrooms, a cook’s kitchen, golf course views from the living room, and an ensuite master bedrooms on the first level with views over both the course and Hook Pond. The second-level master suite has a walk-in closet and private balcony.