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Off the Block: Cotuit Estate Returns to Market for $6.95M

This Cotuit estate was last seen hitting the auction block, but apparently, it missed. We first wrote about the 7,928 sq. ft. residence in August for Curbed Comparisons and now it seems owner Jim E. Feldt, the former executive vice president of Toys"R"Us, is no longer playing around with the price. The listing originally hit the market asking $12.5M and later took three meetings with the pricechopper, slicing over $2.5M off the ask. Since buyers were still unwilling to part with $9.995M for the coastal estate built in 2008 and filled with "rare, reclaimed and antique materials," a sealed bid auction was scheduled, allowing bidders to "name their price" through November 28, 2012. Alas, there were no takers for Idlewild - or, the bids were low-ball. Either way, the 7.6 seaside acre listing and its 18 rare chandeliers has returned to market for $6.95M.
· Cotuit Estate Once Asking $12.5M Is Hitting The Auction Block [Curbed Cape Cod]
· For Shark Week: Five Cape & Islands Houses With Swimming Pools, Asking $359K to $19.95M [Curbed Cape Cod]
· Photo credits: Aerial shots by Peter Winson; Interior & Ground shots by Jeff Thiebauth via Sheldon Good & Company Luxury Residences [Curbed Inbox]
· Idlewild Estate [Sheldon Good & Company Luxury Residences]