Martha Stewart has reduced the asking price of her Turkey Hill Farm in Westport, Conn. to $4.5 million—a far cry from its original asking price last May of $8.995 million, according to the New York Post.
The Post’s fine celebrity real estate columnist Braden Keil reported that there’s method to Martha’s madness, though—she now is splitting the 4-acre property at 48 Turkey Hill Road South in Westport into two 2-acre properties, and she is selling just the land that contains the nine-room, 3,168-square-foot main house that was built in 1805, a guest house, a pool and perennial gardens. She is no longer selling the other half of the farm, which contains other buildings including a “party barn.” Keil’s column did not report what Stewart plans to do with the portion that she currently is retaining.
Martha has been quite the real estate mogul over the years. Her main residence is her 153-acre estate on Girdle Ridge Road in Bedford, N.Y., which she bought in 2000 for $15.2 million. In mid-2004, she sold a penthouse in a Richard Meier-designed building at 173 Perry Street in Manhattan’s West Village for $6.65 million, and also has reportedly sold a dilapidated house in East Hampton, N.Y. for $9 million, according to public records and the Post. She continues to own a 62-acre estate in Seal Harbor, Maine, a house at 58 Lily Pond Lane in East Hampton, N.Y., and a one-bedroom apartment on Manhattan’s Fifth Avenue that she bought in 1988, the Post reported.