Water Mill compound with 2 homes has price chopped by $2M

A three-acre Water Mill property that holds two homes has taken a $2 million price chop, bringing its potential purchase price down to $17.5 million, Behind the Hedges reported. The compound at 475 Flying Point Road had hit the market in November 2018 with a $19.5 million ask. The 9,600-square-foot main house has four bedrooms, a living room opening onto outdoor decks, a chef’s kitchen, two staircases, a home gym, a wine cellar and a sauna. The 5,500-square-foot guest house also has four bedrooms, an open floor plan, a double-height living room and a finished lower level. Both houses have radiant, solar and geothermal heating and were designed by the New York-based architect Alexander Antonelli and built by Bridgehampton-based Fountainhead Construction. The three-acre property has a heated gunite pool and a tennis court. Harald and Bruce Grant of Sotheby’s International Realty have the listing. [Behind the Hedges]