One word: staging. Two more words: get some.
This property has been on the market since October 2014, which is a long 4.5 years. Back then, the ask was a very ambitious $13.9M; in March 2015 the ask was cut down to $11.5 million, and then in May 2015 $1.6 million was sliced off the asking price. By late 2016, the asking price was $8.75 million, and now it is $8.25 million, which is $5.65 million off the original. Ouch. It’s currently repped by Ed Petrie at Compass and Susan Breitenbach and Sharon Kerr at Corcoran.
It seems to us that the owners thought the old-money, classy house would bring a premium price, as opposed to the raw new offerings available at a lower cost. But unfortunately the Hamptons is now parvenu country, folks, and this type of old-fashioned house with old-fashioned decor isn’t going to sell easily. We suggest completely restaging the house with new modern furniture and lighting. Take the table out of the kitchen and put in a marble topped island. (The kitchen is too small by modern standards, but of course back when this house was built, the kitchen was for the servants.)
This is known as the Louis Faugeres Bishop House after the doctor who once owned it. It was designed in 1928 by architect L. Bancel LaFarge in the fashionable French country style and is made of handmade brick. Today it retains much of its original charm with terraces, French doors, climbing plants, and fireplaces. There are five bedrooms and four and a half baths plus a two-bedroom staff wing. Of course there’s a heated pool and lovely old trees. The plot size is 1.5 acres and you can easily walk to town.
What do you think? Worth it?
For more, click here and here. 18 Ocean Avenue, East Hampton
