Watts and Schreiber plunk down $5.4M for Montauk house

Hollywood couple Naomi Watts and Liev Schreiber recently acquired a 3,500-square-foot Montauk home on a half-acre property with ocean views. The move comes months after the award-winning actors, who have two sons together, listed their larger 5,302-square-foot Amagansett residence for $5.85 million. That property is still on the market, but at the reduced priced of $5.25 million. How much time the duo actually spends at the new Montauk house remains to be seen given their busy acting schedules. Schreiber plays the lead role in Showtime’s hit show “Ray Donovan,” while Watts is in the midst of several projects. But they have a relatively new NYC abode — recently featured by Architectural Digest — if they can’t make it to the East End. [Realtor] — Cathaleen Chen