Cathie Black, proposed schools chancellor, sells price-chopped Connecticut home

Cathie Black, the former Hearst executive and much-criticized nominee for New York City schools chancellor, has just sold her suburban Connecticut home at a 15 percent discount, the New York Times reported. The five-bedroom Bridgewater home, which sits on 23 acres with a pool and a guesthouse, was listed for $2.35 million and went into contract for $1.98 million after just two months on the market. The sale closed a few days ago, according to broker Carolyn Klemm of Klemm Real Estate. Black bought the house for $1.1 million in 1998, paying an additional $200,000 for the adjoining land. While Black “loved it there,” Klemm said she was selling the home because “her children have graduated from schools and they’re just going to have the next chapter.” The publishing powerhouse still owns a penthouse at 941 Park Avenue and a home in Southampton for which she paid $4.1 million in 2006. [NYT]