Egypt Lane Compound is Now at a Very Realistic Price

This property was listed last autumn for the first time. It has a lot to offer: a 5,360 square foot house with six bedrooms, all decorated in a lovely traditional style by Steven Gambrel. On an acre of land, there’s a brick patio surround a pool, dining pergola, and a 700-square-foot guest house with a bedroom, bathroom, and sitting room. The pretty gardens are another plus, as is the tony Egypt Lane address.

So why didn’t it sell? Asking $11.5 million, the price was just too ambitious. But now it’s almost a year later and the price has been cut to a very realistic $8.5 million. It’s now repped by Gary DePersia at Corcoran. The property sold in 2010 for $7.5 million and the house currently there was built in 2012, so this seems quite the deal to us.

What say you? Let us know in the comments.

For more, click here. 84 Egypt Lane, East Hampton