Despite having its own private beach and wraparound views of Peconic Bay, the five-bedroom, 8,000-square-foot mid-20th-century home at the edge of a peninsula had been languishing on the market forever. The structure’s slapdash exterior (the result of add-ons applied haphazardly over time) and gloomy interior spaces—heavy mahogany woodwork and crown molding, red wallpaper, brass chandeliers, and view-obscuring mullioned windows—had discouraged buyers for years. Then the recession gave the listing a little nudge forward.
A Manhattan banker had seen potential in the woebegone Hampton Bays property and was following the home closely online, waiting for the price to come down before showing it to his Australia-born wife, whom he knew would want to own it immediately. So in 2008, when the price dipped, he was ready to share his secret obsession, and, as predicted, his wife swooned. In short order, the home—with all its promise and all its challenging quirks—was theirs. Read the rest of the article on HC&G (Hamptons Cottages & Gardens)205