Rabbit Hill mansion returns to market at $9.8M: PHOTOS

The Rabbit Hill estate, in Westchester County, has returned to the market asking $9.8 million – down from the nearly $11 million the sprawling home was asking when it first hit the market in February.

The 1928 brick Georgian mansion, owned by gallerist and art historian Warren Adelson and his wife Jan, spans more than 13,000 square feet on 16 acres.

The Adelsons first listed the 842 Sleepy Hollow Road property in February with a price tag of $10.9 million, with Sotheby’s International Realty, according to current broker David Turner of Westchester-based Houlihan Lawrence. Turner was tapped to represent the property about three weeks ago, he said, and which point the asking price was lowered to $9.8 million.

“Frankly I think it’s priced perfectly right now,” said Turner. “I think we’re going to have a sale on it soon.”

The Adelsons purchased Rabbit Hill, which dates to 1928, in 1998 for $7.5 million, according to published reports. The mansion was designed by architect Mott Schmidt, known for crafting early twentieth century homes for the Astors, Morgans and Rockefellers. Schmidt also served as head architect on Gracie Mansion’s new wing, which was added at the behest of Mayor Robert Wagner’s wife Susan in 1965.

The Adelsons made a variety of renovations to the stately home, including redesigning a wing of family bedrooms to create one large master bedroom with a walk-in dressing room and his-and-her baths, according to Turner. The estate also boasts an elevated terrace overlooking a meadow behind the house.

The Rabbit Hill sale is the latest of the Adelsons’ efforts to downsize and simplify, Turner said. Warren Adelson closed his Upper East Side gallery and sold his Manhattan pied-à-terre last year. The 19 East 82nd Street gallery sold for $27.75 million after first listing for $34.8 million, as The Real Deal reported.

“They have loved and adored [Rabbit Hill], but it’s a big property, not a simple one to manage,” Turner said.