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

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. (More real estate values stories.)