Discounted Domiciles

5 BR, 4 full baths and 1 half bath, 8316 square feet, 4 acres
Taxes: $102,469
Once priced at $25 million, this Colonial surrounded by four acres may have been a bit steep, but hey, at $12.95 million—it’s a bargain! After all, the manse comes with a private beach, pool, and a grass tennis court. Not bad, right? “Current market conditions necessitated a price reduction to entice qualified buyers to view and ultimately bid on this exceptional property,” says Edi P. Giguere of Coldwell Banker Residential Brokerage (Larchmont 914-834-7100; edi.giguere@
cbmoves.com).

On the Market Since: May, 2009 Reduced 48.2% 220 Hommocks Rd, Larchmont

On the Market Since: October, 2008 Reduced 36.8% 3887 Purchase St, Purchase

7 BR, 9 full baths and 2 half baths, 14,368 square feet, 3.29 acres
Taxes: $128,364
This Colonial may be one of the less pricey homes for sale in wealthy Purchase—and it doesn’t hurt that it has more than a few amenities and special features: formal English gardens, a pond, wine room, and an entertainment room/bar and theater. “Builder Joe Simone is realistic about today’s market,” says Kathleen Murray of Houlihan Lawrence, Inc (Rye 914-967-7680; kmurray@houlihanlawrence.com).

On the Market Since: May, 2010 Reduced 18.18% 87 Valley Ln, Chappaqua

7 BR, 7 full baths and 1 half bath, 7,658 square feet, 3.4 acres
Taxes: $67,946
The Provençal setting of this estate, christened La Lanterne, was inspired by a French residence and features picturesque wall murals, antique friezes, boiserie paneling, a tennis/paddle court, a whimsical potting shed, exercise room, lap pool, and an elevator. All this—for less than five mil! “We are in a perceived value-driven market in all price points,” says Joanne Georgiou of Houlihan Lawrence, Inc. (Chappaqua 914-238-4766, ext 313; jgeorgiou@houlihanlawrence.com). “The luxury home segment has been slower to recover than the general market and serious sellers need to price very aggressively to attract buyers.”