Model Christie Brinkley is parting ways with her Sag Harbor mansion — for nearly 30 percent less than its original asking price.
Brinkley is in contract to sell the property at 1 Fahys Road for just under its most recent asking price of $17.5 million, the New York Post reported. It was first listed for $25 million in October 2016, and the price was reduced to $20 million in 2017. Brinkley previously said she “had the time to use the house as much as I used to.”
Douglas Elliman’s Enzo Morabito had the listing, and Corcoran’s Susan Breitenbach reportedly represented the buyer.
The sale comes as the residential market slowdown has seeped into the Hamptons. In the fourth quarter, the Hamptons market saw a 35 percent decline in sales versus a year earlier, according to Douglas Elliman. At the same time, listing inventory surged 81 percent.
The property sits on 4.44 acres and has 327 feet of beach frontage, the report said. It also has a bayside pool and gardens. The home itself spans about 5,500 square feet and includes five bedrooms and four fireplaces. Built in 1843, the home also has a master suite with a private terrace. [NYP] — Meenal Vamburkar