This 2003, direct waterfront home on Shippan Point came on for sale this spring at $5.6 million and has yet to sell. Today it was marked down 30% to $3.6 million. I’ve always had a problem with the approach to Shippan: past the sewage plant and car dealers, etc. but once there it’s awfully nice. And this house looks great. You certainly couldn’t find a relatively new house on an acre of direct waterfront for anything close to this price in Greenwich but then again, this isn’t in Greenwich.