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Gaudy Gilded Age Mansion Now Asking $71M Less Than Cost

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Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We'd love to see what you've got.

Location: Newport, R.I.
Price: $3,900,000
The Skinny: Back in 1894, the Newport summer home known as Belcourt cost $3M to build according to a design by the famed architect Richard Morris Hunt. Corrected for inflation, that's an astounding $75M, a figure that seems even more mind-blowing when the listing price is now just $3.9M. The 60-room "cottage" was built for banking heir Oliver Hazard Perry Belmont, who, coincidentally, inherited a $60M fortune—that's almost $1.5B in today's dollars—upon the death of his Rothschild financier father. As originally built, the sprawling manor had just one bedroom, no guest rooms, and no kitchen, but accommodations for 30 servants and stables for 30 coaching horses. Today, the 27,000-square-foot mansion has 10 bedrooms, nine baths, and 3.22 acres, but, as aerial photos reveal, it's shoehorned in between much less impressive housing. That's probably why the house has been lingering on the market for more than two years, despite a $3.3M price reduction from the original $7.2M ask.
· Belcourt Castle [Zillow]