Howard Phipps Jr., a descendant of Andrew Carnegie’s partner in Carnegie Steel, puts his Old Westbury, N.Y., estate up for sale

An heir to the Phipps steel fortune is selling his sprawling estate on Long Island’s Gold Coast for $29.9 million.

Known as Erchless, the Old Westbury, N.Y., estate was built in the 1930s for Howard Phipps, the youngest son of Henry Phipps Jr., Andrew Carnegie’s partner in Carnegie Steel. The seller is Mr. Phipps’s son, also named Howard Phipps Jr. Now 83, Mr. Phipps wants to downsize in his later years, according to his real estate agent, Maria Babaev of Douglas Elliman. Mr. Phipps Jr. declined to be interviewed.

The Colonial Revival style mansion is constructed in a U-shape, with a large central courtyard, according to the listing. [read more]