By CANDACE JACKSON

The Connecticut estate where actress Katharine Hepburn lived for many decades has been listed for $28 million by current owners Barbara and Frank Sciame, the chief executive of F.J. Sciame Construction.

Photos: Private Properties

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The 3½-acre property was in the Hepburn family from 1913 on. The house was rebuilt in 1939 after a hurricane destroyed it. Ms. Hepburn, who won four Academy Awards, lived there until her death in 2003 at age 96.

Mr. Sciame bought the estate in 2004 for $6 million, divided it into three lots, raised the home several feet and totally renovated it. The 8,300-square-foot house has six bedrooms and eight bathrooms. In the Fenwick borough of Old Saybrook, Conn., the property has a pond and 680 feet of waterfront on Long Island Sound. (The lots are available separately—the largest, with the house and a dock, for $18 million.)

Mr. Sciame said he first bought the home with the intent of renovating it and selling it, “but my family fell in love with it” and ended up spending summers there. The Sciames are based primarily in Locust Valley, N.Y. Colette Harron, with William Pitt Sotheby’s International Realty in Essex, Conn., has the listing.

Katharine Hepburn’s former Connecticut estate has hit the market for $28 million. Plus, Jenny Craig has cut the price on her equestrian ranch listing in San Diego to $25 million from $30 million. WSJ’s Candace Jackson has details.

Jenny Craig Cuts Estate Price

Weight-loss guru Jenny Craig has cut the price on her Rancho Santa Fe, Calif., equestrian estate to $25 million from $30 million. The property, about 30 minutes north of San Diego, came on the market a little over a year ago.

Known as Rancho Paseana, the property’s 229 acres include a ¾-mile racetrack, two guest houses, an olive orchard, five barns and a veterinarian’s suite. Also for sale, for $9 million, is Ms. Craig’s 3.4-acre gated estate in Rancho Santa Fe. On a bluff overlooking the equestrian estate, that property has a four-bedroom main house, gardens and a private car museum.

Mrs. Craig and her late husband, Sidney, co-founded the weight-loss company bearing her name. Jeff Hyland with Hilton Hyland/Christie’s International Real estate in Beverly Hills, shares the equestrian listing with Catherine Barry and Jason Barry of Barry Estates in Rancho Santa Fe. The Barrys also have the listing for the smaller property.

Allmans’ Trucks Sells Home

Butch Trucks, the drummer for the Allman Brothers Band, has sold his Palm Beach, Fla., home for $2 million. The home listed for $3.3 million last year, and most recently had an asking price of $3 million.

Built in 1954, the 5,000-square-foot Mediterranean-style home is less than a five-minute walk from the beach. It has six bedrooms and a grand library. Mr. Trucks bought the home in 1999 and said he was selling because he and his wife are planning to retire in the south of France. Christian J. Angle of Christian Angle Real Estate in Palm Beach represented Mr. Trucks. Bill Yahn of Corcoran Group Palm Beach represented the buyer, who bought the home in a limited-liability company.

—Email: privateproperties@wsj.com

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