DARIEN — The most expensive property in the state is back on the market.

Great Island, a 63-acre private island in Darien, is now for sale at a reduced price of $120 million, according to a listing by Houlihan Lawrence.

The property was previously listed at $175 million in 2016, making it the seventh-most expensive home for sale in the country at the time, according to Forbes. However, no buyer purchased the property and Great Island was later withdrawn from sale.

Though it has a lower price tag, the property remains the state’s most expensive for sale. David Turner, the new listing agent, said the homeowners agreed $120 million would be a more appropriate price after seeing a 50-acre waterfront Copper Beech Farm estate in Greenwich sell for a similar price.

When he first saw the Great Island property, Turner said he was immediately impressed.

“It’s an exceptional property. You have an incredible setting, over a mile of pristine coastline and a worldclass view of the water,” he said. “ ... Quite frankly I see it as a superior offering. It’s extraordinary to think there’s something of its caliber.”

Originally a summer home of industrialist William Ziegler, the island’s manor house was built in 1905, according to the listing. Turner said the property has been in the Ziegler family for over 100 years.

Great Island also offers more than a mile of coastline directly on Long Island Sound and a deep water dock that can accommodate a 100-foot yacht. A white crescent sand beach is flanked by bath houses, according to the listing.

“If you stand on the shoreline it’s pretty incredible,” Turner said. “I can’t think of any other place you can dock your yacht and go anywhere else in the world.”

Great Island is less than 10 miles from Greenwich and less than an hour from New York City. The island’s main house also measures more than 13,000 square feet and has nine bedrooms and seven fireplaces, according to the listing.

The master suite includes a private balcony, fireplace and walk-in closet. Vaulted ceilings and a fireplace can be found in the living room, and there is also a formal dining room and eat-in kitchen.

The island additionally includes an 18-stall granite stable and grand prix indoor and outdoor riding arenas. The grounds feature a garden, balcony, pool and terraces.

“Cherished by generations for over a century, Great Island represents a once-in-a-lifetime opportunity,” the listing said.

dj.simmons@hearstmediact.com; 203-842-2568