The 60-acre Three Ponds Farm in Bridgehampton, N.Y., which first came on the market in 2003 for $75 million, now is available for $68 million.

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The New York Post's fine celebrity real estate columnist Braden Keil broke the story today of the reduction in price of Three Ponds Farm, which is owned by Cheryl Gordon Krongard and which has a USGA-rated, 18-hole golf course and a custom eight-bedroom mansion with 12 baths and a total of 20,000 or 25,000 square feet of interior space, depending on which news account one consults. The architect of record for the mansion is one who has worked on the White House and also on Rockefeller Center.

Features on the estate include a guest cottage, a pro shop, a pool house, barns, a storage silo, a unique fish house, an orangerie, a 75-foot 'flush edge' pool with its own pavilion, a grass tennis court, no fewer than 14 professionally designed gardens (including a traditional English cottage garden, a crabapple allee, a lily walk, a potager, hydrangea, butterfly and rose gardens), and--you guessed it--three ponds, according to the Post and other news accounts.

Three Ponds Farm is located at 939 Scuttle Hole Road in Bridgehampton.