Egypt Lane Compound Sells at a Very Realistic Price

Back in August, this property was relisted with a new lower price after being originally listed last autumn. 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.

But asking $11.5 million, the price was just too ambitious. About eight weeks ago the price was cut to a very realistic $8.5 million and now this beauty is in contract. 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 someone got an excellent deal.

Congrats to everyone: the sellers, the brokers, and most especially the lucky buyers;

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