Richard Gere Cuts $11M More Off the Price of Hamptons Home

Actor Richard Gere is still chopping the price of his Sag Harbor, NY, compound, now down to $36.5 million, almost half of its initial $65 million price tag.

Known as "Strongheart," the estate combines three lots into 6.3 stunning waterfront acres with gorgeous vistas over the Peconic Bay and Mashomack Preserve. There's a sandy beach; a 240-foot-long private, deep-water dock; and a teahouse.

Gere's pretty property is only five minutes from downtown Sag Harbor, the still-quaint boating village that's mentioned in four chapters of Herman Melville's "Moby Dick." Gere assembled the estate in three separate purchases from 2005 to 2008 for a total $11.3 million, Variety says.

During its life on the real estate market, Strongheart has been chopped from $65 million to $56 million to $47.5 million last August, says Variety.

At the current price of $36.5 million, the estate is "a great price," says listing agent Susan Breitenbach with The Corcoran Group. "It will sell soon. It's got a lot of charm."

The 19,000-square-foot main house, originally built in 1902, is now an energy-efficient, geothermal home with a 60-foot heated pool overlooking the bay, rolling lawns, flowering gardens, specimen oak trees, an outdoor fireplace pavilion, and a basketball court.