‘Today’ show anchor Matt Lauer’s most recent Hamptons real estate move is another price reduction for the larger of his erstwhile Sag Harbor residences; Lauer sold a small waterfront cottage in the hamlet last December, accepting $3.5 million for that property, but has had less luck inspiring serious interest in the 25 acre estate located there.

Initially listed at $18 million last summer, the property saw a minor price reduction to $17 million. The most recent price reduction is a little more aggressive, bringing the price of the property down to $14.9 million, which may be enough to stir interest in the sprawling Cape Cod-style home.

Lauer and wife Annette Roque purchased Richard Gere’s expansive estate in the Hamptons, prompting the selloff of the other properties. Gere’s house—known as Strongheart—had been listed by the actor with an initial asking price of $65 million, but had been reduced to $36.5 million prior to purchase by Lauer and Roque.

The main residence spans 8,000 square feet of living space, with six bedrooms, six baths, and a pair of half baths.  Dating to 2004, and designed by Daniel Romualdez with a carefully choreographed interior, the house features panoramic wallpaper and black stone fireplace in the dining room, exposed reclaimed barn beams, striking tonal transitions between rooms, and a pair of very formal but very stylistically divergent chandeliers.

The gated property is accessed via a long gravel drive through woodland; exterior features include a tennis court, a nicely understated pool, a small orchard, and romantic garden design by Miranda Brooks.

Lauer is coming to the end of a contract with Today that remunerates $20 million annually; the co-host is expected to continue with the program.