This Epic New England Estate Has Ties To Billionaires and is Seeking $150 Million In Funding
In the coastal enclave of Greenwich, Connecticut, an estate lying along the shore of Long Island Sound is now available for sale. How much is the asking price? $150 million is an eye-watering amount! But before you think the property isn't worth that much, consider its many extravagant features - including a 75-foot swimming pool, two greenhouses, a grass tennis court, nearly a mile of private waterfront footage, and an offshore island.
It will be one of the most expensive U.S. residential transactions ever if the property sells for close to the asking price, according to Rich Report. In 2019, billionaire hedge fund manager Ken Griffin, who owns a 24,000 square foot penthouse in New York City with a price tag of $238 million, holds the record for the highest price paid for an apartment.
A mysteriously opaque entity known only as The Conservation Institute LLC owns the property, which was purchased in 2014 for $120 million. In response to a question about who is behind the LLC, the estate's listing agents only confirmed it is based in Connecticut. In reality, it's long been widely reported and rumored that hedge fund billionaire Ray Dalio and his wife Barbara own the property. His net worth is $19 billion, and he founded Bridgewater Associates, one of the world's largest hedge funds.
In recent years, Copper Beech Farm, which was first developed in 1898, has been extensively renovated. Located on two parcels of land totaling 50 acres, the palatial property was owned by the Lauder Greenway family, and features a French Renaissance-style main mansion and multiple other structures.
There are eight bedrooms and eight bathrooms in the main residence, which is framed by a pair of stately stone towers and is hidden behind walls, gates, and lush greenery. Nine fireplaces are nestled among the 13,500 square feet of living space on four levels, adorned with oak paneling, plaster friezes, and high ceilings.
In addition to a wood-paneled dining room with a plaster tracery ceiling, the kitchen boasts a center island and an adjoining breakfast nook. The living room has French doors leading out to a tiled solarium topped by a coffered ceiling. Furthermore, a library and part of the basement have been finished.
It also includes a stone carriage house with a clock tower with a garage apartment with one bedroom; as well as a gatehouse with three bedrooms; and the spectacular resort-inspired grounds are complemented by walled gardens, an apple orchard, a heated pool and spa flanked by stone terraces, an octagon-shaped poolhouse, a tennis court with viewing area and two private beaches. Besides that private island in the distance, don't forget about it.
Sotheby's International Realty-Greenwich Brokerage holds the listing with Leslie McElwreath and Joseph Barbieri. As the sole broker in New York, Nikki Field serves as the referring agent for Sotheby's International Realty-East Side Manhattan Brokerage.