It's not a surprise to me that the price has been cut on the Bailey mansion in Harlem. The free-standing house at 10 St. Nicholas Place in New York was once the home of circus entrepreneur James Bailey and it is an amazing structure full of turrets, stained glass and some of the most fanciful and elaborate woodwork around. It's also in a significant state of disrepair. The Wall Street Journal's Private Properties column
reports that the mansion has had a price cut from $10 million to $6.5 million
and whoever buys can expect to expend significant money in rehabbing this old beauty. The column quotes the real estate agent, Lori Huler Glick, who says it could be turned into a a bed & breakfast, a school or a hospital facility. it has 12 bedrooms, a solarium, and a double living room. It is truly a unique structure but it remains to be seen whether anyone has the vision to restore this property.