This stunning property, repped by Gary DePersia at Corcoran, has had quite the history. First, let’s go over the features. Of course, it’s oceanfront on Old Montauk Highway, with gorgeous views. There’s actually just over 4 acres of land, in two separate parcels, so subdivision would be possible, which includes 300 feet of oceanfront.
The house was built in 2006, designed by architect James Biber, and has won many awards. There’s 5500 square foot of space in the main house, which boasts four bedrooms and six baths; there’s also a 24oo square foot guest house with two bedrooms and one bath. Other features include a rooftop deck, wraparound terraces, a custom skylighted gym, a funky screening room, and a wine cellar.
The house was first put on the market back in 2007 asking $35 million. Over the next few years the price was gradually chopped down to $19.9 million, until 2013 when telecom executive Michael Hirtenstein snapped the place up at the bargain price of $13 million. The previous owners had to sell when they lost all their money in the Madoff scandal; Madoff being a near neighbor of theirs. And interestingly, the Madoff house just entered the market too at $21 million.
With acres on Old Montauk Highway running about $7 million each, this place seems extremely well priced. The only issue is that the house might not appeal to everyone; we think it would be a shame to tear it down, though. What say you?
For more, click here. 230 Old Montauk Highway, Montauk