The owners of Katharine Hepburn's seaside estate in Old Saybrook have put the home back on the market for the bargain price of $14.8 million, according to a listing on Trulia.com. The home in the Fenwick section of town was previously listed for as much as $30 million, which included two additional lots that are not part of the latest listing. For more about the sale, see Kenneth R. Gosselin's Property Line Blog: Asking Price Cut On Hepburn's 'Paradise' In Old Saybrook Frank Sciame, a Manhattan-based developer, and his wife, Barbara, purchased the 3.5-acre Hepburn estate for $6 million in 2004. They completed a top-to-bottom, multimillion dollar renovation, which included raising the entire house 5-1/2 feet to guard against flooding. Hepburn, who built the summer home in 1939 and described it as "paradise," spent weekends there for decades before retiring there until her death in 2003.
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