Mel Gibson Reduces Asking Price on Luxury Property

Mel Gibson has reportedly dropped the asking price for his mock-Tudor mansion in Greenwich, Connecticut for the second time in two years.

The enormous house was put on the market in Summer 2007 for an asking price of $39.5 million. In September the property hadn’t sold so Gibson reduced the price to $35 million. Currently still without a buyer, the luxury property is now reportedly now on the market for just $29.75 million.

The luxury property, named Old Mill Farm, was built in 1926 by architect Charles Lewis Bowman for G. L. Ohrstrom, a horse lover. The building itself is mock-Tudor and is around 16,000 square feet featuring 15 bedrooms and 17 bathrooms. Outside the property boasts the ‘standard’ luxury items such as a swimming pool , tennis court and pond, as well as stables, staff houses, log cabin, maze and formal gardens.

Gibson is not the only celebrity finding house selling difficult in the current climate. Last month, Elle Macpherson dropped the asking price on her Notting Hill pad by £2 million after the property was left unsold for over a year.

Macpherson’s Grade II listed property was initially put on the market for £9.5 million last summer. In January, she dropped the asking price to £8.95 million but there were still no takers and Macpherson lowered the asking price again to just £7.5 million.

Macpherson’s property is a Victorian property built in the 1850s covering seven storeys. It features six bedrooms and five bathrooms, and Macpherson is said to have spent a lot of money restoring some of the original features and redesigning the interior.

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