29 Round Hill Club Road, bought new in 2008 for $16.250 million and originally priced this time , in 2013, at an even $18 million, has been reduced again, and you or your gardener can pick it up for just $12.5 today.
The house and its fate speaks volumes about what’s happened to real estate prices up in Madoff co-conspirator Walter Noel’s neighborhood. Back in 2008, paying $16 million for a Doug Vanderhorn-designed home as the market was crashing was, if ill-advised, at least somewhat defensible in certain circles (an Ogilvy client bought it), and had things continued on their sunny path, this owner might have come close to getting out at a modest loss ten years later. Vanderhorn designs classic, traditional Greenwich homes, with graceful proportions, and it wasn’t that long ago that a 12,000 square foot house (including "garaging for 5 cars”, but no basement - can you say “high water table”?) was a desirable residence, so near to the golf club. Today, it’s a double bogey.
It probably won’t help its chances that Cindy Sikorsky Renfret has been brought in to redecorate it: Renfret and her followers are responsible for all of the worst of the 90s back country decorating schemes, but that style passed ten years ago, and emphasizing the outdated feeling of this house was ill-advised.
All that said, the Vanderhorn design is classic, and someone will come along who appreciates it. The monetary extent of that appreciation remains to be seen.