Someone Is Buying Leona Helmsley’s Home for a Slight Discount

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After Leona Helmsley's death in 2007, her Greenwich, Connecticut, mansion Dunnellen Hall remained empty, and lingered, moldering, on the market. Despite needing substantial repairs, it was quite the property: twenty-six rooms, 40 acres of land, views of Long Island Sound, a 52-foot indoor pool, koi pond, and waterfall, a theater, two tennis courts, and a couple of guest houses. Purchased by Leona and her husband, Harry, in 1983 for $11 million, it was originally listed for a whopping $125 million. But then the real-estate market collapsed, and budget-busting name properties like Dunnellen Hall were no longer trendy to buy. The price was chopped first to $95 million, and then to $75 and later $60. Now, the Post reports that a buyer is negotiating to buy it for $55 million. That's still an astronomical price, but when you realize that it's actually a $70 million discount, it kinda seems like a bargain, doesn't it?

The Most Famous of All Great Estates on 40 Acres in Round Hill [Listing/David Ogilvy]
Leona estate is 'cut-rate' [NYP]
Related: New York's 1998 profile of the Helmsleys