Mansion in Greenwich reduced $50 million
By any stretch of the imagination, fifty million dollars is a lot of money, but that is the price reduction on this Manor house in Greenwich, Conn.
The house was originally listed at $125 million but has now been reduced to $75 million in what has to be the biggest discount in the history of luxury real estate discounts, putting even Donald Trump’s Florida mansion discount to shame (reduced by $25 million last May.)
This particular mansion was originally purchased in 1918 for $11 million by the late Mrs Harry Helmsley and more land was purchased bringing the size of the estate up to 40 acres and a substantial sum was then spent on renovating the property.
Like much of the luxury real estate in Manhattan, the boom in Greenwich was fueled by enormous “profits” from hedge fund transactions. As it has become clear that these were not actual profits, prices are now on the way back down again, but this is the first property with such a steep discount applied to it.
I must admit that this is a beautiful piece of property and the real estate agent, David Ogilvy & Associates, describes it as: “The Most Famous of All Great Estates on 40 Acres in Round Hill” According to the listing:
Glorious iron gates open through classic stone walls at the entrance. Ornate lightposts line the broad driveway sweeping through lovely open, rolling lawns past the columned pergola to the spectacular walled courtyard with a magnificent 70-foot marble reflecting pool with a three-tier fountain – it is a sublime approach to this wonderful manor. An impressive door is topped by a great limestone pediment in the Roman style opening into the entrance hall with a cove ceiling and the spectacular cross arched center hall with a Travertine marble floor, limestone walls running the 86-foot length and a double-height plaster tracery ceiling.
This is the listing page – 40 Acres in Greenwich, Conn and the agents have some excellent photographs of the interior and gardens, of which these are an example. Pay them a visit to see more.
