112-year-old East Hampton home gets a $2M price chop

Jack Grubman, the former managing director of the investment bank Salomon Smith Barney, just lowered the price of his 7,000-square-foot East Hampton home by more than $2 million, from its original $16.9 million ask, Curbed reported. Grubman bought the property for $7 million in 2000 and is now listing it for $14,495,000. The home, built in 1906, has seven bedrooms, six bathrooms, two half bathrooms, vaulted ceilings in the living room, a paneled library, an eat-in kitchen, a fireplace and a private sun porch. In 2002, Grubman renovated the whole thing and built a 1,200-square-foot guest house with a double-height great room, bluestone floors, a full kitchen and a bedroom suite. The property also has a heated pool, a Har-Tru tennis court and a three-car garage. Frank Newbold and Beate Moore of Sotheby’s International Realty are handling the listing. [Curbed]