The Real Deal New York

Southampton’s Normandy House estate gets big price chop to $25M

February 26, 2019 11:17AM

An 8,000-square-foot mansion on an estate that once sought $65 million when it hit the market in late 2016 now has an asking price of just $24.9 million, according to Mansion Global. The steep price cut came after a vacant 2.78-acre front parcel first listed with the property sold on its own in April 2015 for $15 million, a move that trimmed the price of the main home at 412 First Neck Lane to $32.5 million, listing broker Tim Davis of the Corcoran Group told the outlet. Known as Normandy House and first listed with Bespoke Real Estate, the Normandy-style home was built in 1930 and designed by Polhemus & Coffin, but has undergone extensive renovations in recent years. The property currently has nine bedrooms in its main house, including a master suite with a private balcony, a separate two-bedroom guest house and about 400 feet of frontage on Lake Agawam. It is within walking distance of the Atlantic Ocean. In order to attract interest in the 5.56-acre estate, now being marketed by Corcoran, Davis told Mansion Global that he encouraged its owners to look for a buyer before summer hits. “In order to do that, we suggested this pricing to get offers and serious interest right away,’” Davis said. The home, which property records show was purchased by its anonymous owners for $28 million in 2013, also has a pool, pool house and a sunken tennis court. [Mansion Global]