Surfers and beach-lovers would adore the site of this property, which the listing refers to as “oceanfront” but isn’t really. Still, once they built their dream house, there would be nothing between them and the Big Blue. Asking price for the property, repped by Chris Coleman at Saunders, is just under $4 million, which is down sharply from the $5.5 million it was asking recently.
The big problem, as evidenced by the spec house right by Two Mile Hollow beach in East Hampton, is that the property backs onto a beach parking lot. That property, which originally asked a laughable $45 million back in 2013, is down almost $20 million off the original price. Ditch Plains lots are quite possibly even busier than Two Mile Hollow in the summer; and while East Hampton Town is talking about paving Dirt Lot to make more space, parking is going to continue to be a mob scene in the summer. Whoever buys this place will have to deal with beach traffic to get into their driveway.
The good news here is that the property currently boasts two separate (and rather cute, but no one is paying that much for cute) cottages, which means a new owner could build two houses on the spot, or a big new house with pool house, whatever. (Although there are clearly issues with wetlands setbacks, as well.) Renderings are included of a handsome elevated modern house to make the most of the views and also, we assume, for FEMA compliance.
So while we think there’s a lot of potential here, we really think the price is going to have to head south to attract an offer.
For more, click here. 60 Ditch Plains Road, Montauk