Donald Trump's Former Estate Relists For A Deep Discount
Kanebridge News
Share Button

Donald Trump’s Former Estate Relists For A Deep Discount

Once asking $78 million, the Greenwich property is now listing for $43 million

By E.B. Solomont
Tue, Aug 23, 2022 9:54amGrey Clock 3 min

After going on and off the market for more than a decade, former President Donald Trump’s onetime Connecticut estate is relisting for roughly half its 2014 asking price.

Once asking $78.5 million, the roughly 6-acre waterfront estate in Greenwich is now listing for $43.4 million, according to listing agent Rob Johnson of Brown Harris Stevens. The roughly 1858sqm Georgian mansion has panoramic views of Long Island Sound.

Mr. Trump and his ex-wife the late Ivana Trump owned the property in the 1980s and Ms. Trump kept the home after they divorced. The current owners, financier Robert Steinberg and his wife, Suzanne Steinberg, bought it for US$15 million in 1998, records show.

The Steinbergs were drawn to the home’s location and the fact that it was big enough for their large family, said Mr. Steinberg, adding that they wanted to be in the Greenwich public school system. “The prior owner is known for picking world-class properties, and this fits that category,” he said. “There was plenty of land to do what we wanted.”

The Trump family didn’t respond to requests for comment.

Mr. Steinberg said they spent about two years renovating. They removed gilded finishes, he said, and added about 464.5sqm to the home, including an indoor lap pool and two guest apartments for extended family. The house has eight bedrooms plus staff quarters, as well as a movie theatre and a soaring entryway with twin curved staircases.

On the grounds, the couple added a tennis court and putting green, Mr. Steinberg said. They also repaired the sea wall and rebuilt the outdoor pool. Over the years, he said the family has hosted graduation parties and weddings on the property. “The house was livable for a lot of children and pets,” said Mr. Steinberg, who said his wife rescues dogs and they have had up to 14 at a time.

The Steinbergs now spend most of their time in Florida, where they built a home in Delray Beach. The Greenwich estate has been on and off the market since 2009, when the Steinbergs listed it for $72 million, according to News Corp, owner of The Wall Street Journal, also operates under license from the National Association of Realtors. It was relisted for $78 million in 2014, and most recently was asking $46 million.

“I had priced it at a very high price initially with the concept that if someone really wants it, I guess I’ll sell it,” Mr. Steinberg said. “But I mispriced it.”

Over the years, he said buyers expressed interest but none made serious offers. “I had one Chinese buyer [who] was seriously interested, but his feng shui adviser told him it wasn’t right,” he said. He has also rejected offers to sell the property in pieces. “It’s too special,” he said.

Mr. Johnson said because the property comprises multiple lots, a buyer could keep the existing structure or redevelop the site into several waterfront homes.

He said the Steinbergs are being “very pragmatic” about selling now, and he said he thinks the combination of a lower price and strong luxury market since Covid will result in a sale. Recently, they “edited and simplified” the Greenwich property with a bit of decluttering, fresh paint and staging, Mr. Johnson said.

The luxury market in Greenwich was soft before the pandemic, but it has benefited from a wave of buyers from the city, as well as those relocating from California, Mr. Johnson said.

“The market has definitely appreciated in the last couple of years,” he said, adding that there is limited waterfront inventory available. “There’s likely nothing else on the water that’s got 6 acres.”

Last year, financier Brett Barakett and his wife, Meaghan Barakett, sold a waterfront estate in Greenwich for approx. $72 million, records show. And designer Tommy Hilfiger and his wife, Dee Ocleppo Hilfiger, sold their property for $65.4 million.

Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: August 22


Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual

Related Stories
The designer’s Mind: Delving into the Best Interior Design Books
By Kanebridge News 24/05/2023
Here’s What It Looks Like When Americans Retire Overseas
By ANNE TERGESEN 22/05/2023
Why Wealthy Homebuyers Are Flocking to Puerto Rico
By E.B. SOLOMONT 19/05/2023
The designer’s Mind: Delving into the Best Interior Design Books
By Kanebridge News
Wed, May 24, 2023 3 min

There’s no shortage of design inspiration online but nothing beats the joy of spending an afternoon immersing yourself in a good interior design book. Edited, carefully curated and, above all, designed, these titles take you behind the scenes of some of the world’s most beautiful interiors in a considered way. Think of it like the difference between listening to a few tunes on Spotify versus releasing a thoughtfully crafted studio album. We’ve assembled our top six of interior design books on the market right now for your viewing and reading pleasure.

1. Interiors beyond the primary palette 

Arent & Pyke: Interiors Beyond the Primary Palette : Arent & Pyke, Arent, Juliette, Pyke, Sarah-Jane: Books

Step inside the world of award-winning interior design duo Juliette Arent and Sarah-Jane Pyke in this, their first compendium of their work. A ‘best of’ over more than 15 years working together, it’s a masterclass in working with colour and pattern as seen through 18 projects from around the country. With a focus on the idea of home as sanctuary, this hefty tome offers insight into the mind of the designer with points on where to find  inspiration, meeting client briefs and the importance of relationships. Thames & Hudson, $120

2 House of Joy

House of Joy - Playful Homes and Cheerful Living - gestalten EU Shop

If there was ever a book title for our times, then this is it. With a subtitle of Playful Homes and Cheerful Living, this book champions fun in interior design, with bold and bright homes from around the world to delight and inspire. While there’s a good dose of the unexpected, like a disco ball in the garden, there’s no mayhem in these spaces. Instead, they’re beautifully executed to tempt even the most colour shy. Gestalten, $105  

3. Abigail Ahern Masterclass

Abigail Ahern's Masterclass :HarperCollins Australia

Some design books are beautiful to look at, and that’s it. This is not one of those books. A master of colour and pattern, UK designer Ahern offers a practical foundational guide to beautiful interiors, mixing form with function in her latest book, Masterclass. Find the inspiration you need to create a gorgeous home. HarperCollins, $65  

4. Interiors Now!

Looking for a visual crash course in international design trends with longevity? This is the book for you. Featuring homes across the globe, from New York to Auckland via Avignon, the biggest dilemma for readers is settling on a style. Many of the projects are owned by designers and creatives, lending a dynamic edge to this tome, now in its 40th year. Taschen, $50

5. Home by the Sea 

Home by the Sea, The Surf Shacks and Hinterland Hideaways of Byron Bay by Natalie Walton | 9781743798256 | Booktopia

For many Australians, the ocean holds an almost hypnotic appeal. Home by the Sea by Natalie Walton lets you imagine, for a little while at least, what it’s like living the dream in a beach shack in Byron Bay. The book tours 18 homes in and around the region and the hinterland owned by artists, designers and makers. With photography by Amelia Fullarton, it champions the good life. Hardie Grant, $60            

6. The Layered Interior

The Layered Interior - Greg Natale

Released last year, this is the third volume from award-winning interior designer Greg Natale. Different in format from his earlier books, the eight projects featured are Australian but with a slight Euro-centric focus. The writing is conversational, almost intimate, inviting the reader into the most luxurious spaces beautifully captured by photographer Anson Smart. This coffee table tome is perfect for dreamers and doers alike. Rizzoli, $110 


Sales volumes and median prices on the rise in the N.T

An influx of people could calm future volatility.

    Your Cart
    Your cart is emptyReturn to Shop