Leona's Mansion Makes History: Price Drops $50M

By Harry Kimball, Newser Staff

Posted Apr 21, 2009 4:27 PM CDT

(Newser) – The asking price for the late real estate magnate-cum-jailbird Leona Helmsley’s Connecticut mansion has been slashed by $50 million, the Wall Street Journal reports. The 40-acre Greenwich property is now offered for $75 million, down from $125 million. Insiders think it could be the largest cut ever for a house in America. Helmsley’s will requires that the house—two pools, 13 bedrooms and all—be sold, ugly market or not.

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Dunnellen Hall in Greenwich, Connecticut. (AP Photo)

Leona Helmsley. (AP Photo)

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It's a beautiful, beautiful piece of property. But there are very few deals happening; people are just looking and looking. - Barbara Wells, Prudential Connecticut Realty

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