Richard Gere slashes price of Hamptons estate to $47.5M

The actor bought the property for $6.9 million in 2006

From left: Richard Gere and 26 Actors Colony Road
From left: Richard Gere and 26 Actors Colony Road

Richard Gere has lowered the asking price of his Hamptons home by an additional $8.5 million after being unable to sell the property for the original $65 million last summer. The price is now down to a mere $47.5 million.

This discount follows a $9 million price cut last April, and comes alongside a broker shakeup as well. Previously listed with Linda Haugevik of Sotheby’s International Realty, the property is now in the hands of Douglas Elliman’s Michaela Keszler, Paul Brennan and Raymond Smith.

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Gere bought the six-acre North Haven estate, which is named Strongheart Manor, in 2006 for $6.9 million.

The actor’s waterfront estate at 26 Actors Colony Road was built in 1902 and has a gym, basketball courts, an outdoor fireplace and a 60-foot heated pool. [NYDN] — Claire Moses