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Hamptons house sees $12 million price cut this week

The breathtaking waterfront property at 186 Crescent Avenue in Water Mill has just dropped its asking price 26% from the previous listing price. As written in the NY Post, the house hit the market in July 2010 when it was listed for $40 million. The listing price was reduced for the first time in October, down to $38 million, and reduced again 4 days ago to $28 million.

186 Crescen Avenue
186 Crescen Avenue (Source: Corcoran)

See the full property report for 186 Crescent Avenue and browse current Hamptons homes for sale.