Beach bargains: Hamptons luxury home prices are dropping

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Beach bargains: Hamptons luxury home prices are dropping
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After numerous record-breaking, pandemic-fueled, $100-million-plus mega-mansion sales, the hyped up Hamptons may have finally hit a wall. The number of East End home sales fell to their lowest leve…

The two-story, 10,000-square-foot, cedar-shingle modern farmhouse, with five bedrooms and five full baths, listed back in November 2022 for $29 million, before being reduced in January and again in March to its current price.

“It’s a very, very rare opportunity,” says Bradley , “because you are allowed to build a second home on the property. There are very few properties that allow that in East Hampton, and it’s priced properly.” With a spectacular seaside perch in East Hampton, the six-bedroom 33 Lily Pond Lane had a price tag of $64 million when it hit the market in August 2021 — that’s now been discounted to $44.5 million.— a 7,000-square-foot, six-bedroom, eight-bathroom, oceanfront oasis in East Hampton — hit the market in the heady days of August 2021 asking $64 million.

In Water Mill, a massive 13-bedroom mansion at 71 Cobb Lane, set on 9 sprawling acres overlooking Mecox Bay, is asking $59.95 million — a big slash from its $72 million ask last year.Located on a private peninsula on Mecox Bay, the sprawling mansion landed on the market with a $72 million sticker in May of last year. Today, it’s seeking $59.95 million.

Make a deal and you’ll get extras like a tennis court, a tennis house, a basketball court, a saltwater gunite pool and a two-level pool house.

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