An “elegant, sprawling” eight-bedroom Colonial mansion built in 1924 in Scarsdale, N.Y., could soon be demolished in order to make way for something more modern on the 5-acre lot the home sits on.

Scarsdale10583.com reports that the 9,263-square-foot home went on the market in 2012 with an asking price of $12.995 million. The asking price has since been dropped to $7.25 million, and the owner has applied for permission to demolish it.  The Scarsdale Committee for Historic Preservation on Oct. 15 will consider whether the home is of historical importance. Source: scarsdale10583.com

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