East Hampton spec home gets a whopping $20M price cut

An eight-bedroom, 9.5 bathroom home off Further Lane is on sale for $24.75 million, which probably isn’t all that shocking. But considering that the spec home was originally listed at $45 million in 2013, people are taking note. Sitting on nearly three oceanfront acres at 38 Two Mile Road, there is a 8,242 square foot manse, an infinity pool and a tennis court. Despite all that and more, the property saw price drops in 2014, 2015, 2016 and 2017. And it’s still looking for its forever family. Susan Brietenbach of the Corcoran Group has the listing. [Behind the Hedges]