Richard Gere Drops The Price On His Hamptons Home

by Deidre Woollard (RSS feed)
Jun 9th 2009 at 7:00PM

As Newsday reports, Richard Gere already has a home in North Haven, New York and so he's a motivated seller when it comes to his Water Mill home. Richard Gere and wife Carey Lowell have lowered the asking price for the seven-bedroom farmhouse from $8.8 million to $7.2 million,

Gere had his New York apartment in Julian Schnabel's Palazzo Chupi on the market for almost a year (it was last listed at $15 million but the listing has now disappeared). The charming Too Many Maples in Water Mill was bought by Gere and Lowell for $2.75 million back in 2001. The home is on a 1.2 acre lot that includes a swimming pool, guest house and artist's studio. The gracious country residence has been given a comfortable renovation that has the offhand casual appeal that it often takes quite a bit of money to attain. Antique wood floors and vintage light fixtures add to the classic style. Details like a farmhouse style table in the dining room and white marble counter tops set the stage for lazy food-filled weekends while the wide porch offers the perfect place to wile away the afternoon. What say you, is this photogenic home owned by a photogenic couple right priced now or will they have to dip closer to the $5 million mark in order to get it to contract?

Gallery: Too Many Maples