BUYERS: Naomi Watts and Liev Schreiber
PRICE: $5,400,000
SIZE: (approx.) 3,500, 4 bedrooms, 4.5 bathrooms

YOUR MAMA’S NOTES: Although they’ve yet to sell their 6,000-square-foot residence in the blissfully relaxed but still impossibly chic and tony Hamptons hamlet of Amagansett — a wee bit more on that in a minute — Naomi Watts and Liev Schreiber coughed up $5.4 million for a considerably smaller if no less luxuriously appointed house a few miles farther east, in Montauk, as was first revealed on 27East.com.

The cedar shake shingled Hamptons-style cottage, built in 2007 according to listing details, is positioned on a high point of the irregularly shaped half-acre parcel and was designed “upside-down” with airy, open-concept main living and entertaining areas placed on the upper floor to best take advantage of what listings describe as “expansive ocean views.” The great room, a combination living/dining/kitchen space with hardwood floors and vaulted ceiling, has French doors to a semi-circular dining deck and a floor-to-ceiling Palladian window with long ocean views. A peninsula counter top divides the dining area from the country-style kitchen that’s dressed up with marble counter tops and designer appliances and features a center island with integrated snack bar plus a fieldstone-faced fireplace, and French doors that open to a slender bowed balcony. There are a total of four bedrooms and 4.5 bathrooms in about 3,500-square-feet, per online listing details, including a basement level bedroom and bathroom suitable for staff or, perhaps, less-favored guests. The ocean-facing master suite features French doors to a private veranda and the attached marble bathroom has a steam shower and claw-footed bathtub set below a window with ocean view. Beyond the house there’s an in-ground swimming pool, flagstone terrace for dining and sunbathing, small pool house, and outdoor shower. A nearby dirt path runs along the dramatic bluffs of Shadmoor State Park and provides easy access to an unspoiled stretch of beach.

The Watts-Schreiber’s other Hamptons home, a comfortably stylish 6,061-square-foot residence set behind hedges on two-thirds of an acre right at the edge of Amagansett’s itty-bitty shopping and dining district was acquired in September 2007 for $4.3 million. The casually luxurious spread, which does not have an ocean view like their new house, came up for sale late last year at $5.85 million but was taken off the market in early June of this year 2016. The unmarried but long coupled pair additionally own a trio of adjacent and presumably conjoined condos  in New York City’s Tribeca neighborhood that they bought in two separate transactions. Two side-by-side units were acquired jointly in late 2011 for $3.7 million and the second, directly below, in late 2013 for $2.075 million. And, finally, in Los Angeles they maintain a 4,410-square-foot Provençal villa in a celeb-favored cranny of the quietly posh Brentwood community that Miz Watts bought, from Sally Field for $4.205 million in June of 2004, about a year before she hooked her romantic wagon to Mister Schreiber’s.

Busy as a beaver Miz Watts, a two-time Oscar nominee (“21 Grams,” “Lo impossible”), has more than half of a dozen film and television projects in some state of production including the lead role in the upcoming Netflix psycho-drama “Gypsy” and Mister Schreiber, who appeared in the 2015 Oscar-winning film “Spotlight,” currently holds down the titular role as a ruthless Hollywood fixer on the Showtime series “Ray Donovan,” a role that garnered him a 2016 Emmy nomination. The much in-demand couple will co-star this fall in the biopic “The Bleeder” about heavyweight boxer Chuck Wepner who went an epic 15 rounds with Muhammad Ali in 1975.

Listing photos: Corcoran