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Bruce Ratner Buys in Hampton Bays; Water Mill Estate Loses $2M

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The latest headlines from Curbed Hamptons, our outpost on the East End...

1) Developer Bruce Ratner sold his $10 million Montauk estate last year and went in search of a smaller oceanview pad. Success! He's closed on a $5 million, 4,200-square-foot place in Hampton Bays.

2) The estate of old Long Island family the Gardiners has hit the market with all the heaviness of a $29 million asking price. One rare reature: 5.4 acres of land on East Hampton's Main Street. Worth it?

3) Perhaps less worth it: a post-modern Water Mill estate that's been sitting at an ask of $14 million until just last week, when it took a neat $2 million off the top. The new price doesn't sound so steep for two pools, a tennis court, and 10.5 bathrooms.

· Curbed Hamptons []