T
he House of Cassini, a stunning eight-story Gilded Age mansion on Manhattan's Upper East Side, has undergone another significant price reduction, now asking $49.5 million after previously being listed for $65 million just four months ago and $54.5 million last month.

    Designed by renowned architect John H. Duncan, the Beaux-Arts beauty boasts extraordinary wood-paneled details and features a marble staircase, 14 fireplaces, floral garlands, arched French windows, and herringbone floors. The mansion's history is as complex as its architecture, having been the site of a 30-year civil war between its owners.

    Marianne Nestor Cassini and her sister Peggy bought the property in 1984 for an unknown sum, planning to transform it back into a single-family home from its then-rental unit configuration. However, they faced resistance from Thomas Britt, who had been living in a massive triplex within the building since 1971, paying just $700 a month.

    The sisters and Britt engaged in a lengthy court battle, which only ended when Britt dropped his fight and moved out in 2018. The following year, a mortgage lender filed for foreclosure, but Marianne Nestor Cassini filed for bankruptcy just before the sale was set to take place.

    The mansion's history is also marked by controversy surrounding Oleg Cassini's estate, with his widow being accused of malfeasance and misconduct in her handling of his $55 million fortune. The estate includes several properties, including a townhouse that sold at auction for $5 million in 2022 and another property in Norwalk, Connecticut.

    The current listing notes that the sale is subject to court approval, and the mansion's preservation is a significant aspect of its appeal, with many Gilded Age homes having been torn down in the 1920s. The property features a double-height living room, gallery, wood-paneled library, gym, conservatory, and three terraces, making it "one of the most beautiful townhouses in New York" according to listing broker Louise Beit.