For the Second Time in Three Months, Price Slashed on Gladwyne Mega-Mansion

The owner of a Gladwyne mega-mansion has dropped its price for the second time in three months to bring it down to $11.9 from the original $28 million listing price, writes Kennedy Rose for the Philadelphia Business Journal.

The 12,700-square-foot residence is described as “modern Gothic Revival.” It boasts six bedrooms and six full and three half bathrooms. In addition to the indoor pool, there is a wine cellar, arcade, theater room with stadium seating, lighted tennis and basketball courts, and many other amenities.

The property is owned by Andrew Barroway, co-owner of the NHL’s Arizona Coyotes and managing partner of Merion Investment. Since the estate was listed five years ago, he has not received an offer that was over $15 million and without contingencies, said Misha Haghani, a broker with Paramount Realty USA who holds the listing.

“The seller is a committed seller,” said Haghani. “He wants to sell, so we reduced the price in order to help that happen faster.”

The property is also available to rent at $40,000 a month.

Read more about the mansion in the Philadelphia Business Journal.