Real Estate

Druckenmiller Mansion Markdown Is Biggest Greenwich Sale of 2017

Source: Sotheby’s

Billionaire investor Stanley Druckenmiller sold his eight-bedroom Greenwich mansion for $25 million, the biggest sale this year in a Connecticut town where high-end listings have been piling up.

9 Sabine Farm Road in Greenwich

Source: Sotheby’s

It took a discount to seal the deal. The purchase price was 21 percent less than the $31.5 million the seller originally sought, according to the listing. Druckenmiller bought the 12,238-square-foot (1,137-square-meter) home in 2004 for $23 million.

9 Sabine Farm Road

Source: Sotheby’s

Druckenmiller’s sale was the third in Greenwich this year for more than $20 million, and the second to find a buyer after the owner agreed to a price cut, according to data from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. There were 180 luxury homes on the market in Greenwich at the end of the third quarter, the firms said.

    Before it's here, it's on the Bloomberg Terminal.