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Hudson Valley estate once touted as a marvel of modern engineering has seen its price slashed by 75% after failing to sell for three years. Ledgerock, a 15,000-square-foot mansion perched on the banks of the Hudson River in Hyde Park, is now listed for $11.25 million.

    The limestone-clad residence was initially priced at $45 million when it hit the market in 2021 by developers Monica and Jacob Frydman. The property features an all-steel construction, fossilized stone façade, and riverfront views, but buyers weren't biting.

    After spending years developing the property, which they purchased for $1.5 million in 2005, the Frydmans no longer own Ledgerock. An affiliate of Curiam Capital, a litigation-finance firm that foreclosed on the property after lending $13.2 million to an entity tied to Jacob in 2019, now owns the mansion.

    The current seller is looking for someone who will appreciate the property's views and amenities, including a pool, spa, five bedrooms, multiple terraces, and finishes of exotic wood and stone. The estate sits on 10.7 acres and includes a two-bedroom guesthouse with a garage and carwash.

    Despite recent updates to the property, including a new roof for the guesthouse and modernized security setup, the home struggled to attract serious interest at its original price. Even after being reduced to $14.5 million, it failed to sell. Real estate agent Jason Karadus now represents the listing with Corcoran Country Living and believes that $11.25 million is a bargain.

    The property's dramatic fall from its original asking price highlights the challenges of selling ultra-high-end homes in non-traditional luxury markets like Hyde Park. While historic estates are common in the area, few buyers are willing to shell out tens of millions for modern properties.