After spending years on and off the market, the Hamptons estate of billionaire pharmaceutical wholesaler Steward Rahr has finally found a buyer, the Wall Street Journal reports.
Burnt Point, the postcard-worthy waterfront property that occupies about 25 acres Wainscott, New York, entered the closing stages recently for around $50 million; the final price isn’t yet a matter of public record, but it was almost certainly a distant echo of its hopeful 2015 ask of $95 million. In any case, Rahr’s six-year odyssey of de-listing and re-listing has been brought to a close.
According to the Southampton Press, the estate was custom-built by commodities trader David Campbell, who picked up the sylvan slice of Long Island in 1996 for $10 million and hired Francis Fleetwood to design the house. The mansion’s interiors measure in at 18,000 sq. ft. across two levels, so its footprint is considerable.
The estate begins with a modest-but-dignified set of gates that access a languorous and, in season, green tunnel of a driveway. The home’s architecture is Dutch-inflected shingle-style, and features an expansive covered porch overlooking the broad swath of lawn that stands between the house and the 2,024 feet of Georgica pond frontage that is the property’s westerly terminus.
The mansion’s interiors are graced with reclaimed flooring that dates to the 19th century, as well as splendid water views. There are two elevators in the home, as well as a library with beamed ceilings, a large screening room, and a peach of a wine room—groin-vaulted ceiling, a ‘caves’ aesthetic and enough room for a tasting table.
Rahr’s net worth is north of $2 billion.
