The former Water Mill home of New York Times managing editor, the late Arthur Gelb, is for sale at an asking price of $2.77 million, according to the Post. Swiss writer Rose-Marie Bordihn bought the Hamptons cottage in 2007 for $2 million. The recently restored 2,550-square-foot home boasts an acre of land, five bedrooms, and views of a pond–the perfect summer beach house.
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