An Ambler mansion built by Edward Smith of Smith Barney has been reduced in price once again in the hopes of finally finding its new owner, writes Kennedy Rose for the Philadelphia Business Journal.

The 12,299-square-foot home at 1336 Gypsy Hill Road has been listed several times in recent years, offered for as high as $4.2 million in 2018.

Since then, the ‘Edward Smith’ home has seen its price slashed on multiple occasions, with the most recent valuing it at $2.895 million.

“It really is a tremendous value, especially in the Gwynedd Valley area,” said Wendie Steffens, a Realtor with Kurfiss Sotheby’s International Realty. “We’re hoping to move it this time.”

The eight-bedroom, seven-bathroom home sits on 3.4 acres and boasts 18-inch thick granite walls. Multiple highlights include a gorgeous library, several fireplaces, and mahogany paneling.

Meanwhile, the outside impresses with a flagstone patio, a fifty-foot pool, gardens, and a fountain.

According to Steffens, the parties held at the mansion have attracted the likes of Grace Kelly and Gen. Douglas MacArthur.

“You don’t see houses built like that today,” she said. “And if you do, they’re well over $15 million.”

Read more about the home of Edward Smith of Smith Barney in the Philadelphia Business Journal.

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Editor’s Note: This post first appeared on MONTCO Today in August 2021.