Cardboard Mogul Gets Slightly Serious, Cuts Duplex Tag to $29.5 M.

Just over one year ago, Westchester's very own corrugated-cardboard magnate, Dennis Mehiel, put his 10,350-square-foot duplex condominium at the Carhart Mansion on the market with mega-broker Dolly Lenz for $35 million, even though he and his wife had bought the place in September 2005 for $15.5 million, way less than half that. "The $35 million is where the market is today," Ms. Mehiel said in a short interview then, before hanging up, "so that’s all I can say."

This summer, their tag was cut to $34.9 million, which wasn't exactly a sign that the harsh realities of the post-Lehman world had sunk in.

But their listing price was just brought all the way down to $29.5 million--a nice 15-percent cut, though still $14 million more than what the couple paid for the four-bedroom, 18-foot-tall sprawl. Current broker Brian J. Manning did not immediately return an email for comment.

mabelson@observer.com