The price of late author Tom Clancy’s former penthouse at the Ritz-Carlton Residences in Baltimore has dropped yet again.
The 12,000-square-foot condo, made up of four combined units, is now for sale for $8.7 million, according to Shawn Breck, vice president of TTR Sotheby's International Realty. Wednesday's price decresase is the second since the condo went on the market for $12 million in October.
"We've had several showings, and the general feedback was that it was overpriced," Breck said, adding that since the real estate market tends to slow down in the summer, he thought the timing was right for a decrease.
"We're just trying to keep things moving. We knew it would take awhile, but we don't want to have it take forever," Breck said.
The penthouse's listing price first dropped, from $12 million to $10.9 million, in February.
The price is now more in line with where it should be, Breck said.
Still, that is less than what Clancy and his wife paid. The couple purchased the four units, and combined them into one, for $12.6 million in 2009. The penthouse — which has five bedrooms, two offices, three private elevators, a gym and an in-home theater — is decorated with white and silver palettes and a range of neutrals, giving it a luxurious yet modern feel.
The Baltimore-born author died in 2013 at age 66. He was best known for writing military and spy fiction novels, including "The Hunt for Red October," "Patriot Games" and "The Sum of All Fears," which were all adapted into feature films.