A Philadelphia-inspired Moorestown home that cost roughly $27 million to build is now hitting the auction block with a reserve price of just $10 million, writes Katherine Clarke for The Wall Street Journal.

Pharmacological entrepreneurs Calvin and Orsula Knowlton used Philadelphia’s famed Second Empire-style city hall as inspiration for the exterior of one of the most ostentatious homes in their native state.

The couple decided to put the more than 40,000-square-foot mansion up for auction after a seven-year-long journey that involved a complete overhaul of their original plans for the site, permitting and construction delays, and a significantly expanded final result that features a chapel, an English-style pub, a wine grotto, and a golf simulator.

Despite being proud of the project, the Knowltons admit it turned into a financial boondoggle.

“It’s sunk cost,” said Calvin, adding that he is used to dealing with good and bad outcomes as a businessman. “Sometimes you do really well…and other times you don’t.”

The pair moved into the finished home two years ago, but they only spent their time there sparingly. So in the end, they decided to sell as they primarily live in Florida, which is where their business is based.

Read more about the Moorestown, New Jersey home on the auction block in The Wall Street Journal.

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