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Hamptons Estate Slashes $6M Off Price, Now Asking $59M

23-Jul-2017


Fang Block, Mansion Global

One of the most expensive homes in the star-studded town of East Hampton got a $6 million price cut, the second significant reduction since it came onto the market last August for $69 million.

The estate had a $4 million price reduction last month before the latest price change. Now asking $59 million, it’s still one of the top 10 highest-priced East Hampton estates on the market, according to the Multiple Listing Service.

“The seller wants to take advantage of the August/September selling season when everyone is here,” said James Petrie of Compass and co-listing agent of the property, with regards to the price cut.

The 10,000-square-foot residence has seven bedrooms, nine-and-a-half bathrooms and ample entertaining spaces, all boasting plank-wood flooring, coffered ceilings and ocean views. Designed by renowned Hamptons architect Francis Fleetwood, the house also connects to 2,400 square feet of covered porches and porticos, according to the listing

Manicured gardens, a heated infinity pool, a rooftop viewing deck and sandy beaches complete the outdoor landscaping.

East Hampton is one of the most desirable summer playgrounds for the rich and famous from the New York. On Further Lane where this 6.2-acre property sits, celebrity residents include Jerry Seinfeld, fashion tycoon Helmut Lang and TV personality Donny Deutsch. The summer house of former first lady Jacqueline Kennedy Onassis, currently on the market just shy of $35 million, is also on Further Lane.

The last owner of the home, listed in public records as James Marcus, who passed away in 2015 at 85, was a partner at Goldman Sachs, former chairman of Metropolitan Opera and Lenox Hill Hospital.

His estate is selling the property.


The Sydney Morning Herald
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