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The Real Deal Miami

$31M Southampton home slashed by $4.1M

By Amy Tennery | September 29, 2010 11:15AM



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Inside the Southampton home, the kitchen.





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A new oceanfront Southampton home on the tony Meadow Lane has just had its price slashed $4.1 million, amid a market that has been tenuously getting back on its feet.

The three-story home, now on the market for $26.9 million, was developed by Bruce Lifton and Jason Green, according to the listing agent, Harald Grant, a senior vice president with Sotheby’s International Realty. The seven-bedroom, 10-bathroom home has been on the market since March, when the home was completed, Grant said.

Despite reports of sluggishness in the high-end Hamptons market this summer, Grant said he’s already sold two listings for more than $20 million this year. He said that the Meadow Lane home price cut was made in an effort to adapt to the market.

“There are people out there who will pay for good value [but] nobody is going to pay over market value,” Grant said. “[We] wanted to give the market an opportunity to buy what they perceived as value.”

Value or not, the 10,150-square-foot home isn’t lacking in amenities — it includes a massage room, steam and sauna facilities, a wine vault and an elevator.

Additionally, the oceanfront home, which sits on 2.3 acres, has an infinity-edge pool and direct boardwalk access to the beach.