Actor Val Kilmer has relisted his 6,000-acre New Mexico ranch for $18.5 million, a 44% discount from its original $33 million asking price in 2009.

The Pecos River Ranch is about 30 miles east of Santa Fe. Six miles of popular trout-fishing river runs through the ranch. The property includes a main house built of logs with four bedrooms and four baths, with an attached guest house. There are several additional staff and guest houses, as well as an equestrian complex. Mr. Kilmer currently operates the ranch as a bed and breakfast.

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Daniel Nadelbach

Val Kilmer’s New Mexico ranch.

Mr. Kilmer has starred in films including “The Doors” and “Batman Forever.” In 2009, the longtime New Mexico resident flirted with the idea of running for governor.

C. Patrick Bates of Bates Sanders Swan Land Company in Salt Lake City has the listing with Darlene L. Streit of Sotheby’s International Realty as a supporting broker.

Jonathan Adler-Simon Doonan Home on Shelter Island Reduced

Designer Jonathan Adler and Simon Doonan, creative director of Barneys New York, reduced the price on their Shelter Island, N.Y., home to just under $1.2 million, about a third off its original listing price of $1.8 million earlier this year.

The couple bought the three bedroom, two-bathroom mid-century modern house for $185,000 in 1998 and gut-renovated it. Located near a beach, the half-acre property includes a 1,300-square-foot house and a 75-foot-long heated swimming pool.

Mr. Adler and Mr. Doonan have moved to the other side of the island, to a 1.4-acre property that was purchased for $1.9 million in 2008.

Penelope Moore of the Corcoran Group has the listing.

Hagey, former Dodge Cox CEO, Buys Ranches in Sun Valley

Harry Hagey, the former CEO of investment-management company Dodge Cox Funds, has purchased two adjacent ranches in Sun Valley, Idaho. The properties were listed for $27.5 million. The purchase price couldn’t be learned.

The ranches, which have a total of 4,600 acres, were owned by local developers who purchased them in 2005 with plans to build a residential development. Construction never began. About a half-hour drive from the Sun Valley ski resort, the land is home to wildlife and a river known for its trout fishing.

George Kirk of the Kirk Group had the listing, and was a managing partner of both ranches. Trent Jones, of Hall and Hall, represented the buyer. He said Mr. Hagey and his wife, Shirley, plan to use the ranches for conservation and recreation purposes.

—Candace Jackson—Email privateproperties@wsj.com

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