We’re not sure what the issue is with this property, 23 Chauncey Close in East Hampton. It seems to offer plenty: a flat, empty lot of 3.9 acres, obviously close to the ocean, with about 500 feet of frontage on Georgica Pond and of course amazing views. It’s currently represented by Lori Schiaffino at Compass.
Originally the land came onto the market in 2013 asking a hefty $18.5 million. It’s been parceled with neighboring 19 Chauncey Close and offered separately, all at various price points. Now the ask is just under $10 million, which is a shocking 46% drop since 2013. Does anyone know what the issue is? Price? Wetland setbacks and variances restricting house size and pool? The crummy state of Georgica Pond putting people off? All of the above? If anyone has any intel, let us know in the comments.
For more, click here. 23 Chauncey Close, East Hampton
