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Hamptons Home In Discount Bin

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Late last year, an 18,000 square foot Bridgehampton house suffered the humiliation of foreclosure, an indignity that's supposed to be reserved for Ed McMansions in California. Adding insult to injury is the news that the home, which features 8 bedrooms, 9 ½ baths, a pond, elevator and "flower-cutting room," all set on 4-acres, has just seen its asking price reduced from $27 million to $19.5 million. The only thing that could possibly make this sad situation even worse is if Lenny Dykstra is able to successfully sell his Thousand Oaks home for the delusional price of $24,950,000 (i.e. 33% more than what he bought it for less than a year ago) before this place goes (which might actually happen, considering Nails is throwing in some deal-clinching extras, such as his "Discarded Dips of Distinction," a collection of chewing tobacco from the great moments of one illustrious career, tastefully encased in a white gold-flecked display case). The silver linging? John Paulson, now shorting the individual mortgages of down-on-luck friends in the Hamptons, is going to make a killing on this one.
$19.5 Million Hamptons Mansion In Foreclosure [WSJ]