Gere first listed the 6.3-acre estate last summer in July for an outrageous $65 million. At the time, we wondered if the 12-bedroom home was actually worth the stunning price-tag.
The property, known as Strongheart Manor, was built in 1902 and comes with two guest houses, an outdoor fireplace pavilion, and a dock that looks out onto the water.
It's been renovated and expanded to include twelve bedrooms and over 12,000 square feet of space. The home is currently listed through Sotheby's International Realty, which recently added even more high-quality pictures of the mansion to beef up the listing.
The price cut could help Strongheart Manor sell - especially with the new Hamptons season on the horizon - but considering Gere bought the entire property originally for $11.3 million (not including the cost of his subsequent renovation), $56 million still seems awfully steep.