Another $2.6M is slashed from Parsonage Lane estate in Sagaponack

It was asking $24,995,000 when it came on the market

By Grace Cassidy Jan 25, 2019, 8:22am EST

The incredible 12,000-square-foot mansion on 10 acres of land at 550 Parsonage Lane in south-of-the-highway Sagaponack has just received another price cut and is now on the market for $17.4 million.

Originally asking $24,995,000 when it went on the market two years ago, one $5 million price cut was made in September of 2018. In total, $7,595,000 has come off this luxury Hamptons listing.

According to PropertyShark records, the 10-acre property was purchased in 2006 under a limited liability company for $9.35 million and the current house was built the year after.

Built by Jeffrey Collé—the same builder who renovated the estate that Beyoncé purchased in East Hampton—this house includes eight ensuite bedrooms, two additional bathrooms, coffered ceilings, wide plank hardwood flooring throughout, multiple fireplaces, and a professional chef’s kitchen. The finished lower level offers a billiards room with a bar, a home theater, and access to the exterior living space, where one will find a gunite pool and spa, a Har-Tru tennis court, and a half court basketball court.

Corcoran Group agents Debbie Brenneman, Charlie Esposito, and Debbie Loeffler represent the listing.

When we last featured the property, our commenters pointed out that $20 million is a lot to spend if you’re not going to be on or near the ocean. Now that the price has been cut, what do our readers think? Tell us in the comments.