Five Years Later, $10 Million Off a Shingled House on Georgica Cove

sale for georgica property

This peaceful home, with three acres of land and a generous 408 feet of waterfront on an arm of Georgica Pond, has been languishing on the market for five whole years now. Back in 2012, the asking price was an ambitious $24.75 million; the price was cut last year to $19.75, and last week another $5 million has been trimmed, down to $14.95 million. The property is listed by Ed Petrie and James Petrie at Compass.

All photos via Compass

Designed by Jaquelin Robertson of Cooper, Robertson and Partners and built by Caramanga/Murphy, the house is designed to make the most of the peaceful water vistas. One issue might be that there’s only four bedrooms plus a one-bedroom apartment, which is a little skimpy for a 7500 square foot house. Too cramped? The listing notes that “Zoning would allow substantial house expansion.”

A veranda that overlooks a 50′ waterside pool; there isn’t a tennis court but theoretically there’s room for one. What do you think? Is the price finally low enough to attract a buyer?

For more, click here. 11 Cove Hollow Farm Road, East Hampton