The $3 million price tag on a 15-acre parcel of land in Mattituck with 300 feet of waterfront has been slashed to $2.25 million.

“This is beautiful land with scenic vistas and water frontage, and that makes it very special,” says listing agent Thomas McCarthy of Thomas J. McCarthy Real Estate in Southold. “We’re on Deep Hole Creek, which goes directly out to Peconic Bay.”

advertisement | advertise on newsday

The property includes a 1940 two-bedroom cottage with water views. “It’s been in the same family for generations,” says McCarthy. “This is a little cottage that was a summer bungalow for a farming family,” says McCarthy. If you’re interested in rebuilding, “the existing cottage gives the owner a distinct advantage as to where to put a new residence,” he says.

Since its current use is agriculture, annual taxes are only $8,068. Some 40 percent of the land can be subdivided into 2-acre lots, with 60 percent remaining as open land that could be farmed or left in its natural state.

The sellers “would entertain expressions of partial interest” as well, says McCarthy.


Thomas J. McCarthy Real Estate photo