Estate of the Day

When it comes to real estate if at first you don't succeed, list, list again. The Wall Street Journal reports that former Lehman Brothers president Joe Gregory has relisted his beautiful Bridgehampton mansion at a new lower price. This was our estate of the day back in September 2008 when it was listed for $32.5 million. We watched the price tumble to $27.9 million before it was taken off the market. Now it's back with a new broker, Beate Moore of Sotheby's International Realty, new listing pictures and a price of $25 million. 

Gregory bought the 9,500-square-foot oceanfront home for $19 million in January 2007. The Hamptons home was a new eight-bedroom spec house which was built on 2.5 acres in Bridgehampton, New York. Gregory and his wife Niki spent several million dollars in renovations but reportedly only spent less than a month total in the home before it was first listed. The home includes two master suites and a a second floor deck, The property has a pool area surrounded by plush green lawns and a sandy path leading across the dunes and to the ocean