Ah, 2010. So long ago. The iPad debuted; Angry Birds; Lady GaGa’s meat dress. Deepwater Horizon; Wikileaks. And this house, one of just seven on the ocean in Wainscott, was listed for sale asking $23.5 million. Annnd then it sat there.
Back in 2013 (Boston Marathon bombing, Oscar Pistorius, Pope Francis), the house was still listed. The asking price was $23.5 million.
Now here it is 2018 (Winter Olympics, March for Our Lives, Robert Mueller) and the property has been relisted, now with Michael Norbeck and Emma Clurman at Saunders. No prizes for the asking price.
Of course, if you wait 8 years, it is to be hoped that real estate values will rise to meet your asking price.
The house itself dates from the early 80s, and “dates” is the right word here. It’s a total teardown.
We tend to think the ask is still a little high, though, given that any buyer will then need to build a house. (We believe the owner built the house new back in the 80s, and maybe doesn’t agree it’s a teardown.) Still, though, 2.3 acres and 300 feet of oceanfront is quite a nice chunk of land. We’re thinking offer $20 million, build a 6500 square foot modern for $1K per foot, and the property should be worth $26.5, we think.
What say you? Let us know in the comments.
For more, click here. 124 Beach Lane, Wainscott