Buddy Fletcher’s Cornwall Castle Sells for Pennies on the Dollar

(Bloomberg) Beyond three sets of gates, down a mile-long drive, rise the fairy-tale turrets of Cornwall Castle. That would be Cornwall, Connecticut. For almost a century, the estate in the rolling hills 100 miles north of Manhattan stood as a New World monument to Old World grandeur. One owner is said to have been chauffeured in a pink Cadillac. Another, Saul Steinberg, the late chairman of Reliance Group Holdings, flew in by helicopter. Oscar de La Renta and Picasso biographer John Richardson attended parties hosted by a Macy’s executive, Joseph Cicio, the castle’s next lord.

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