Poor old 472 Further Lane, Amagansett. It’s been on the market for just about ten years at various price points: $11.5 million in 2008, $9 million, $15.95 million in 2014 (this price included a new Farrell home on the land), and basically it’s bounced off and on the market since then priced at either $9 million or $15.95 million. It’s been repped by various agents including Gary DePersia and Rylan Jacka, at Corcoran, Sotheby’s, Elliman, and so on. And no sales.
Why not? It’s just too expensive for what it is. Sure, it’s on the south side of Further Lane, but it’s also on the corner of Indian Wells Highway, and that’s a very busy corner in summer. And while the property offers a generous 2.6 acres of land, with rolling green lawns and trees, the house itself is 3000 square feet, 4 bedrooms and 4 baths. Perfectly nice, but not for $9 million.
Now apparently the owner has decided to dispense with the services of agents and sell themselves. Um…good luck with that. $9 million properties aren’t easy to sell, and even more so when overpriced. And if the litany of highly skilled agents who’ve repped the property before can’t shift it, the problem isn’t them, it’s the price. The owner paid $6 million in 2008, in case you were wondering.
What do you think? Let us know in the comments.
For more, click here. 472 Further Lane, Amagansett