Hamptons Cheat Sheet: Matt Lauer slashes $2M from Sag Harbor estate’s price, renovations underway at Grey Gardens … & more

The Hamptons Real Estate
Clockwise from top left: Little Edie Beale at Grey Gardens in East Hampton in the 1975 documentary "Grey Gardens," Lorraine Bracco lists her Bridgehampton home for $3.8 million, Matt Lauer cut another $2.15 million off the price of his Sag Harbor estate, and a Robert A.M. Stern-designed East Hampton mansion sold for nearly $9 million.

Matt Lauer slashes asking price of Sag Harbor estate 
Disgraced former NBC anchor Matt Lauer has cut the price of his Sag Harbor estate for the third time since listing it more than a year ago. The former Today show host recently chopped another $2.15 million off the asking price, with the 25-acre Deerfield Road property now listed at $12.75 million. The 8,000-square-foot house was built in 2004 and has six bedrooms and six-and-two-half bathrooms. Lauer bought the property with his now-estranged wife Annette in 1999. Susan Breitenbach of the Corcoran Group has the listing. [Daily Mail]

New owners renovating East Hampton’s famous Grey Gardens
With new owners and a massive renovations underway, Grey Gardens, the East Hampton estate that was home to Big and Little Edie Beale looks very different today from the unkempt mansion made famous by the 1975 documentary of the same name. The house’s porch and chimneys have been removed, and the entire structure is set to be lifted off its moorings to make way for a full basement, the East Hampton Star reports. Sold for $15.5 million in the fall by journalist Sally Quinn, who had bought Grey Gardens in 1979 with husband Ben Bradlee, the historic home’s new owners said through their contractor that the restoration will return the property to its former glory, saving as much of the original structure as possible. [EHS]

This week in tiny houses: 540-square-foot Noyack cottage sells after 2 weeks
Having two bedrooms and two bathrooms in only 540 square feet didn’t hurt a Noyack cottage that hit the market recently. The tiny house on a quarter acre property on Lake Drive in the Bay View Oaks community went into contract 17 days after being listed for $650,000. Originally built in 1956, the renovated cottage has new appliances and updated bathrooms. [Curbed]

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Southampton School District to buy $2.3M house for offices
The Southampton School District is in contract to buy a $2.3 million house at 50 Narrow Lane for use as administrative offices. The 4,700-square-foot home is across the street from the high school and will need to be retrofitted, bringing the total cost of the property to about $5.4 million. The school district’s offices have been in a trailer next to the intermediate school on Leland Lane since 1971. A proposal to build new offices at that location would cost an estimated $5.9 million. Voters will need to approve the purchase in a referendum on May 15. [Southampton Press]

‘Sopranos’ star Lorraine Bracco lists Bridgehampton home for $3.8M
Lorraine Bracco, star of mob dramas “The Sopranos” and “Goodfellas,” is looking for a deal she can’t refuse on her Bridgehampton home, listing the property for $3.8 million. The five-bedroom, four-and-a-half-bathroom house sits on one acre on Butter Lane overlooking an 11-acre reserve. The actor bought the property from heiress Anne Hearst in 2004 for $1.6 million and had put it up for sale as far back as 2007. Felicitas Kohl, of the Corcoran Group, has the listing. [NY Post]

Robert A.M. Stern-designed East Hampton mansion sells for nearly $9M
Designed by Robert A.M. Stern in 1990, an 11,800-square-foot post-modern mansion in the Georgica section of East Hampton sold to a German real estate investor for close to its most recent asking price of $8.995 million, Curbed reported. The 2.3-acre property was listed for $12.25 million in 2015, before multiple price cuts over the past years. The home has nine bedrooms, seven full and three half bathrooms and private guest quarters, as well as a gym, wine cellar and media room. [Curbed]