The Real Deal New York

Packaged desserts empire cuts price on bayfront estate

Entenmann's Little Snack Bites and the estate at

Entenmann’s Little Snack Bites and the estate at 521 East Lake Drive

Units may be selling like hotcakes at Gurney’s, but a nearby Montauk compound has been stuck on the market for two years. Now, its owner, the Entenmann family, has slashed the price of the seven-acre property to a sliver below $18 million — a nearly one-third reduction of their original ask of $25 million. Located just down the road from Montauk Airport at 521 East Lake Drive, the property houses four lots: two are empty, one contains a two-bedroom cottage, and the last encompasses a 150-foot dock with three industrial structures, a boathouse and a two-bedroom apartment. [Curbed] — Cathaleen Chen