A billionaire sells his sprawling Hamptons estate, dubbed Dracula's Castle for $50 million
Stewart Rahr, the billionaire, has finally sold his vast Wainscott estate for $50 million, which is $45 million less than the asking price.
Rahr, also known as "Stewie Rah Rah, the No. 1 King of All Fun," purchased the sprawling eight-bedroom Hamptons estate for $45 million in 2004 – the same sum he was expecting to benefit from when he listed it for $95 million in 2015.
According to the Wall Street Journal, the estate is situated on a 25-acre peninsula with a panoramic view of Georgica Pond and the Atlantic Ocean. A private dock, tennis court, four-car garage, pool, and spa are all included in the luxurious house. The house itself is 25,000 square feet and has eight bedrooms.
“The property gave him a ‘overwhelmingly calm' and ‘a ‘Golden Pond' kind of feeling,” Rahr, a close friend of President Trump, told the Washington Post. However, the neighborhood refers to it as "Dracula's Castle."
Rahr is the former owner of pharmaceutical wholesaler Kinray, which he sold for $1.3 billion in 2010 and is now valued at over $2 billion.