AgentIndustry News

$25M price drop for Lake Tahoe estate

210-acre property was listed for sale in 2006
Published on Jun 10, 2011

Knock 25 percent off the listing price of a $100 million home, and you've just saved a prospective buyer a cool $25 million -- a sum that's bound to pique the interest of even the fabulously rich.That's the thinking behind the new asking price for Tranquility, a nine-bedroom, 38,000-square-foot estate that originally went on the market in 2006 for $100 million. Tommy Hilfiger Corp. co-founder Joel Horowitz and his wife Ann built in the late 1990s, sparing no expense in constructing an eight-building compound that incorporates materials, artifacts, furniture and art gathered from around the world.The main residence's great hall features 30-foot-tall windows, and a sky-lit entryway boasts marble floors patterned after those in the New York Public Library. The dining room features 300-year-old French plank flooring, and there's a cigar lounge modeled after one in New York City's St. Regis Hotel.Now the couple are ready to move on, and have repriced the house to sell."I think peop...

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