After another price cut, this bayfront Water Mill estate is down $9M

After two and a half years on the market and several multimillion-dollar price cuts, the bayfront estate at 64 Holly Lane in Water Mill is now $9 million cheaper than the original $24.75 million asking price.

Sotheby’s International Realty agent Beate Moore represents the listing, which is currently on the market for $15.75 million.

Hollywood talent agent, Peter Benedek, purchased the 1.46-acre waterfront property in 2004 for $3,075,000 and then built the 7,000-square-foot estate in 2008.

Features include seven bedrooms, seven full bathrooms, two half-baths, an open breezeway, a master suite with two bathrooms and dressing rooms, a glass elevator, and floor-to-ceiling windows that maximize the views of the surrounding landscape. Outside, there’s a heated pool, a private dock, and 500 feet of water frontage on Mill Creek, which leads directly into Mecox Bay.

In the past, our readers have thought that the asking price was too ambitious, and that work would need to be done to the house to bring it up to date. Now that it’s cut $9 million from the asking price, what do you think of the estate? Do you think that more price cuts need to be made to entice a buyer? Tell us in the comments.

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

Photo courtesy of Sotheby’s

For tips and corrections, please email hamptons@curbed.com

• Water Mill Estate Area Waterfront [Sotheby’s International Realty]
• Bayfront Water Mill estate cuts asking price, down $5M in one year [Curbed Hamptons]
• Waterfront in the Water Mill Estate Section is $24.75M [Curbed Hamptons]

Mecox Bay

, , NY 11976