A sprawling estate resting along the shores of Long Island Sound is newly for sale in the coastal enclave of Greenwich, Connecticut. The asking price? An eye-watering $150 million! But before you go thinking it possibly couldn’t be worth that amount, consider the property’s many extravagant features — a 75-foot swimming pool, two greenhouses, a grass tennis court, nearly a mile of private waterfront footage and its own offshore island, just for starters.
Per The Wall Street Journal, which first reported the listing, if the property trades for close to the asking price, it will be one of the priciest U.S. residential transactions ever. The current record is held by billionaire hedge-fund manager Ken Griffin, who doled out $238 million for a 24,000-square-foot New York City penthouse in 2019.
The property is currently owned by a mysteriously opaque entity known only as The Conservation Institute LLC, which paid a whopping $120 million for the place in 2014. The estate’s listing agents would not say who is behind the LLC, only confirming they are from Connecticut. But it’s long been widely rumored and reported that the real owners are hedge fund billionaire Ray Dalio and his wife Barbara, both veteran Greenwich residents. Dalio is founder of Bridgewater Associates, the world’s largest hedge fund, and sports a personal net worth of $19 billion.
Extensively renovated in recent years, the estate was first developed way back in 1898, and is now known as “Copper Beech Farm.” The palatial property belonged to the Lauder Greenway family, and includes a French Renaissance-style main mansion and multiple other structures spread across two parcels of land totaling 50 acres.
Hidden away behind walls, gates and lush greenery, a winding 1,800-foot driveway empties out at the eight-bedroom, eight-bath main residence, which is spotlighted by a pair of stately stone towers. Inside, 13,500-plus square feet of four-level living space is adorned throughout with high ceilings, oak paneling, plaster friezes and nine fireplaces.
Among the highlights: a living room with French doors spilling out to a tiled solarium topped by a coffered ceiling, along with a wood-paneled dining room sporting a plaster tracery ceiling, and gourmet kitchen outfitted with a center island and an adjoining breakfast nook. There’s also a library and partially finished basement.
Additional structures include a stone carriage house with clock tower that has a one-bedroom garage apartment, plus a three-bedroom gatehouse; and outdoors the spectacular resort-inspired grounds are showcased by walled gardens, an apple orchard, a heated pool and spa flanked by stone terraces and an octagon-shaped poolhouse, tennis court with viewing area and two private beaches. And don’t forget that private island looming off in the distance.
The listing is held by Leslie McElwreath and Joseph Barbieri of Sotheby’s International Realty-Greenwich Brokerage. Referring agent Nikki Field of Sotheby’s International Realty-East Side Manhattan Brokerage serves as the exclusive New York broker.