House of the Week: $4.9M home on private peninsula needs TLC

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Click here to view the full photogallery.Location: Rye, N.H. Price: $4.9 million The Skinny: Occupying a prime position at the head of a private peninsula, this 1870 summer cottage is full of potential, but in need of a thorough restoration. Fortunately for history buffs, the unique private community of Straw's Point has covenants to encourage the preservation of the existing homes. This particular house -- with its tall windows, historic details and attractive siting -- stands to benefit from a devoted renovator.The 5,100-square-foot manse has eight bedrooms and 2.5 baths in its current configuration, and features rare details like marble mantelpieces, an original farmer's sink, and wood-and-glass cupboards. Some misguided attempts at "improving" the property will have to be corrected, like the '70s vintage sliding doors in the living room, but those sorts of touch-ups are a small price to pay to restore 19th-century authenticity. That is, a sm...