Six years ago, Chris Whittle, founder of school-management company Edison Schools, decided to sell his Hamptons home. The Wall Street Journal Private Properties column reports that he tried to sell the entire estate for $45 million, then $36 million, but eventually took it off the market. Now he is offering a 3.7-acre property which is home to a classic shingled four-bedroom, four-bath guest house, designed in 1990 by architect Peter Marino. It is listed at $27 million which is a bit high but does include 403 feet on prized Georgica Pond and it is the Hamptons after all. The home has a large living room, country kitchen, master bedroom suite plus three guest bedroom suites and powder room. It is listed at $27 million.

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