Now reduced below construction cost, this amazing 11,500+/- sq. ft. new construction on 3+/- acres is tucked away on a gorgeous waterfront street, a cul-de-sac of $5-$15MM homes. The home sits proudly on a knoll, across from Shelter Island Sound and Ganet Creek, for gorgeous winter water views. Originally budgeted to sell at $7MM, the house is now listed at $4,999,000, under $435/square foot and priced to sell. The outside features shingle-style architecture, while the inside surprises with stunning modern finishes. A massive 2-story foyer with tasteful millwork connects the open spaces of the first floor, which boasts a 4,250+/- sq.ft. There is tremendous open flow connecting the living room and great room (separated only by see-through fireplace), designer kitchen, breakfast room, and formal dining room with open wetbar and glass wine cellar. A massive Junior Master, 3-car garage with mudroom, plus pool bath round out the first floor. Choose between a grand staircase or elevator up to the second floor, where 5 ensuite bedrooms and living room/office spread out over 3850+/- square feet. The master suite is spectacular, spanning front to back to take advantage of the winter water vistas and westerly back yard views. The suite features a private living room with wet bar, two fireplaces and dream master bath, with dolomite and grigio marble appointments including 5" vanity counters, 2 showers and 2 water closets. A finished walk-out lower level adds 3400+/- sq. ft., including open living room/game room, gym, future theater, 7th ensuite bedroom and second laundry. Outside, the property offers a 50 x 20 pool with hot tub and retractable cover, 3 community tennis courts (two doors away) and a bay beach to leave your kayaks or paddleboard all summer. This waterside North Haven location, near Sag Harbor's bustling town and excellent schools, offers total serenity on 3+/- acres at the end of a quiet cul de sac. This new construction is not only ripe for enjoyment, but also price appreciation as Sag Harbor continues to explode in popularity.