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Once $7M, Popponesset Island Shingle Style Now Asking $4.85M

This Popponesset Island listing hit the market on September 15, 2008, the very same day Lehman Brothers filed for bankruptcy. Apparently, that wasn't the best time to try and offload a $7 million abode in New Seabury.

The .57 acre waterfront spread ended up bouncing on and off the market through June 2009 when, after failing to woo a deep-pocketed buyer, the place was de-listed. Fast forward to this week and the nine-room shingle style has returned, albeit with lowered expectations. Now, after switching brokerages, the asking price is $4,850,000, making this the fourth priciest listing in town. In addition to views of Popponesset Bay and Nantucket Sound, the pricey abode is tricked out with "striking design and impeccable workmanship." Per the listing:

Exceptional features include antique heart of pine floors, custom cabinetry, cast iron baseboards, speaker system, top of the line appliances, extremely efficient Lochinvar boiler,and two fireplaces. Enjoy a well-equipped cook's kitchen, a screened sunroom with stone fireplace, first floor master bedroom, comfortable living room with coffered ceilings and extensive exterior decking. One of the finest homes on the coast.
· Listing: 40 Popponesset Island Road, New Seabury [Robert Paul Properties via Zillow]