On Osborne Avenue in the village of Southampton, a cozy cedar-sided house peeks out over a modest hedgerow, a coy signifier of means in this storied summer retreat of New York’s moneyed classes. A blue real estate broker’s sign is planted at the foot of the driveway: the house is up for sale for the fourth time in eight years. Its churning transaction history tells the tale of a dizzying decade. In 2001, it sold for $460,000 …In 2008, they put the house on Osborne Avenue up for sale again, asking nearly $2.2 million — almost five times the property’s market value at the beginning of the decade.
By Andrew Rice, March 15, 2009, NYT

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