CT: Paul Simon Sells Estate for $6 Million Loss

The was two-decades of depreciation?

Celebrity Net Worth headline: Paul Simon And Edie Brickell Sell Connecticut Estate For $10.8 Million – A Big Number, But Actually A $6 Million LOSS

By Joseph Gibson on July 22, 2022 in Articles › Celebrity Homes

https://www.celebritynetworth.com/articles/celebrity-homes/p…

Married music legends Paul Simon and Edie Brickell have sold their sprawling 32-acer estate in New Canaan, Connecticut for $10.8 million. Not exactly chump change, but unfortunately that’s about $5.7 million less than the $16.5 million Simon and Brickell paid for the property about two decades prior.

The property was originally listed in 2019 for $13.9 million.

As for the property itself, it’s known as Brookwood, and you shouldn’t let its price drop over the last 20 years give you the wrong idea. This is still a handsome piece of real estate, with a Georgian-style main house designed by architect Harold R. Sleeper all the way back in 1938. There’s also a guest cottage that the property’s official listing describes as “private and character-filled,” with 1,483 square feet of interior space and its own private driveway. The listing goes on:

“Advantageously situated to appreciate the majestic setting, the elegant 5-bedroom main residence, built in 1938 by esteemed architect Harold R. Sleeper, features resplendent period details, soaring ceilings, captivating fireplaces, oversized windows, hand crafted millwork and an abundance of natural light. Grand formal rooms flow to terraced patios, perennial gardens and stepping stones that run down to the pool, waters’ edge and the rambling, bucolic property. A separate 3-bedroom cottage offers a quintessential escape to be as creative and self-indulgent or as engaging and social as you wish.”

Richard Gere was the buyer:

Mansion Global Headline: Richard Gere is the Buyer of Paul Simon’s Heavily Discounted Connecticut Estate
Sub-headline: The music icon and wife Edie Brickell sold their New Canaan home last month for a nearly $6 million loss
BY VIRGINIA K. SMITH
|
ORIGINALLY PUBLISHED ON AUGUST 5, 2022

https://www.mansionglobal.com/articles/richard-gere-purchase…

Actor Richard Gere has been revealed as the buyer of the New Canaan, Connecticut, estate that music power couple Paul Simon and Edie Brickell sold last month at a multi-million dollar loss, according to records.

Mr. Simon, 80 and Ms. Brickell, 56, bought the 31.8-acre property for $16.5 million in 2002, Mansion Global has previously reported. The pair listed it for $13.9 million in 2019, later dropping the asking price to $11.9 million, and relisting for $12 million in early 2021. The estate sold to Mr. Gere for $10.8 million in early July.