Former Tyco CEO slashes price on Nantucket estate

If you're in the market for some new digs on Nantucket -- and you have $16.45 million -- former Tyco CEO and current inmate number 05A4820 Dennis Kozlowski has got a deal for you.

The Wall Street Journal reports (subscription required) that he has cut the price on the estate from $23 million, but that's still a pretty good return on the $5 million he paid for it in 1997. You can take a look at the listing for the property here and it's pretty spectacular: 16 rooms, 7,000 square feet and plenty of fireplaces, limestone and marble. Rent out the guest cottage to help pay the mortgage!

The home is being sold unfurnished which is a shame given that Kozlowski once spent $6,000 on a shower curtain and $15,000 on a "dog umbrella stand." Then there was the birthday party for his wife that included togas, vodka-spouting statues of David, Jimmy Buffett, and a cake with exploding breasts. The party cost $2 million, and Tyco paid for half of it.

To see a behind bars interview with Kozlowski, check out this fascinating clip from 60 Minutes.