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Edgartown Harbor's 'Chapeda Hill' Lowers Ask to $12.75M

Attention bargain hunters, the second most expensive listing on Martha's Vineyard just got slightly cheaper. "Chapeda Hill," a 1.7 acre spread on Edgartown Harbor, features an 8BR, 6BA Gambrel from 1930, a "one-of-a-kind sandy beach" with "Boathouse" and "Playhouse," and a 160' deep water pier that's "suitable for a large vessel." The property first hit the market back in December 2011 for $14,750,000, but took two meetings with the PriceChopper in 2013 that brought the ask down to $13,250,000. Perhaps inspired by last month's incredible $15,000,000 sale, 31 Tower Hill Road has now lowered its expectations to $12,750,000.

· 31 Tower Hill Road, Edgartown [Wallace & Co. Sotheby's International Realty and Zillow]
· Meet Martha's Vineyard's Most Expensive Home Sale of 2014 [Curbed Cape Cod]
· The Cape & Islands 25 Most Expensive Listings, Sept. '14 [Curbed Cape Cod]