Why Hasn’t Anyone Bought This Georgica House in Four Years?

georgica house

We don’t get it. A charming vintage Georgica house (c. 1900) set on 1.1 acres of prime  land. Pretty landscaping, a cool round pool, but no one wants it. This house wowed us back in 2013, when it first hit the market asking $10.5M. It didn’t wow the buyers, and the price gradually dropped close to what the owner, writer Barbara Goldsmith, paid for the place back in 2006: $7.5M.

All photos via Compass

Unfortunately Ms. Goldsmith passed away last year, and now the property, repped by Ed Petrie, James Petrie, and Julie Wolfe at Compass, is a mere $5.395 million, about half what it was asking four years ago. Yes, some of the interiors need a bit of updating, but nothing really serious. Come on, people.

The house is a 5000 square foot traditional style with five bedrooms and 4.5 bathrooms. The interiors, decorated by Mica Ertegun, are gracious and elegant yet accessible. We love the kitchen with a Garland stove (for serious cooks) and a black stainless range hood. Outside, the pool really does look (at least in the picture) like a natural pond. Next to it is a pool house with a bar with refrigerator and icemaker, a bathroom and changing room, and a heated outdoor rain shower. Over the detached garage is a two bedroom cottage with its own generator.

What are you waiting for, rich folks? We’re getting close to land value here.

For more, click here. 86 Georgica Road, East Hampton.