Seen here: Richard Gere's lovely Water Mill abode, owned under the unexpected (and Buddhist, it seems) name 'Tushita Trust'. The 5,500 square foot spread, listed in February for $8.8 million, has had its price slashed by a cool $1.6 million. Gere and his wife, Carey Lowell, already own a place in North Haven near Jimmy Buffet's, and it seems they are eager to settle down next to the Margarita Man. This seven-bedroom, 10.5-bath farmhouse is now on the market for $7.2 million with Saunders & Associates, who title its listing 'Too Many Maples'. Really? While Tushita doesn't seem to be a property overwrought with trees to us, we'll take their word for it.
· Richard Gere Lowers Price of Water Mill House [Real LI]
· Listing: 'Too Many Maples' [Saunders & Associates]