The former NBA player Wally Szczerbiak is taking another shot at a sale of his massive Long Island estate. He’s asking a discounted $7.9 million for the handsome home. He and his wife, Shannon, purchased the property for $5.3 million in 2012.

The couple placed the property on the market in 2017, at the much higher price of $13.8 million.

But without a buyer stepping up, the home has undergone multiple price cuts over the years. In 2018, it dropped to $12 million, and then, several months later, it was slashed to $9.8 million. In 2020, it returned to the market for $8.8 million.

Then the home’s price was cut yet again, to $7.3 million last year. Back on the market this week, the price has bumped up slightly, although it is still 43% off the original ask.

The regal residence sits in Cold Spring Harbor, NY, a hamlet on the North Shore of Long Island. It’s also the place where the now-retired hoopster attended high school—and the property is reportedly around the corner from his childhood home.

This giant mansion comes with a lot of history. Built in 1910, the home was later purchased by J.P. Morgan in 1933, as a wedding gift for his daughter. During World War II, the owners stripped one wing of the house to donate copper, wood, and other materials toward the war effort.

After the Szczerbiaks picked up the property, they embarked on a costly multiyear renovation, which was completed in 2015. The updates included adding the lost wing back on the home as it had originally been built.

Located on Cold Spring Harbor, this area is billed as “truly a Hamptons alternative” in the listing. Only about 30 miles from Manhattan, the completely renovated and restored Georgian Colonial spans 22,000 square feet, on almost 5.5 acres. The offering includes eight bedrooms, 10 full bathrooms, and four half-bathrooms. Guests access the property via a long driveway, which ends in a motor court and fountain.

The opulent space, which opens into a double-height foyer, is filled with lavish details, such as a double staircase, decorative ceilings, and crown moldings.

An eat-in kitchen includes dark wood with elaborately detailed wood cabinetry, dual islands, and a breakfast nook. A family room adjoins the eating area. The formal dining room features red wallpaper, a fireplace, and a chandelier.

Other rooms include a glass-enclosed conservatory, library, bar, game room, and a home theater emblazoned with the Szczerbiak name. The four-story residence also includes two separate quarters for guests.

Other amenities of the former NBA All-Star’s home include a gym, sauna, and basketball court.

A huge porch overlooks the grounds and gardens. Outside, the outdoor space features a saltwater pool and a modern, light and bright poolhouse with a kitchen and sitting area. The land also comes with a private dock.

Szczerbiak, 44, spent 10 seasons in the NBA and retired in 2009. He’s since soared into the broadcast world, serving as an analyst for the Knicks and for college hoops.

Scott Van Son with Berkshire Hathaway holds the listing

The post Wally Szczerbiak’s Long Island Estate Available With Huge Price Slice appeared first on Real Estate News & Insights | realtor.com®.