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Nicolas Cage Sells Gray Craig Estate – SOLD

Nicolas Cage Sells Gray Craig Estate – SOLD

December 23
14:26 2010

SOLD – $6,200,000

Nicolas Cage has been in and out of the news regarding financial problems, so it’s no surprise  he was trying to sell this historic Gray Craig Estate at a bargain price.  Sources say Cage purchased the home in 2007 for $15,700,000 and there is currently a $13,300,000 lien on it for overdue taxes.  Originally listed at $19,000,000 in 2008, the Estate was then offered at only $7,750,000 with no sale.  It finally sold in April 2011 for a reported $6,200,000 to a Massachusetts couple, an entire $9.5 Million less than the original asking price.

Nestled in the privacy of Paradise Valley, an inspiration for generations of American artists including William Trost Richards and a sanctuary of wild life and natural beauty, Gray Craig is an estate of unparalleled refinement.  Built in the tradition of the great English country manors, Gray Craig is an example of an expansive estate in perfect proportion to its natural surroundings.  The setting for this remarkable home is stunning, 27+acres of lush landscape, dramatically extending to Nelson Pond with outstanding views of the Atlantic Ocean beyond.

Of the finest structural design, built of textured brick and stone, the manor house spreads between its flanking wings a towering slope of roof.  Proportion is the good breeding of architecture, and this expanse of space and unity with the land express the power of design.  The grand hallway with a magnificent sweeping staircase introduces interiors of repose and distinction.  The sense of welcome and comfort in an elaborate manner invites one into richly detailed rooms including an impressive library with a soaring barrel-vaulted ceiling, a formal living room with sweeping water views, a spacious dining room, a vintage conservatory, a handsome billiard room, and a gourmet kitchen with stone fireplace, custom hickory ceilings, and antique terra cotta floor tiles.

A perfect setting for lavish entertainment and a quiet country retreat for peaceful reflections, Gray Craig is set in the charming coastal community of Newport County, and is a haven of solace and privacy just two miles from the bustling Newport Harbor waterfront.  Additionally, two other properties once part of the Gray Craig estate are currently available.  The Kennel Cottage, an 8 acre parcel with a fully renovated home and magnificent gardens, is offered at $5,970,000.  The Gate House, an enchanting 4 bedroom, 3 bathroom residence with it’s own guest house, is available at $2,295,000.

Price: Was $19,000,000Was $7,750,000 – Sold $6,200,000
Size: 18,825 Sq. Ft.
Bedrooms: 12
Bathrooms: 10 Full, 3 Half
Speciality Items: Owned by Nicholas Cage, Built in 1924, Natural Surroundings, 27+ Acres, Views of the Atlanta Ocean,  Additional 8 Acre parcel once original to the estate is also available and offered at $6,950,000.
Address: 75 Gray Craig Road, Middletown, Rhode Island, United States

THE HISTORY OF GRAY CRAIG
In the late 1800s, Oliver Hazard Perry Belmont, a devoted equestrian who founded the famous Belmont Racetrack in Queens, NY and its annual Belmont Stakes race, owned 77 acres of rural ocean-side land. Belmont, along with Cornelius Vanderbilt and other leaders of Newport society, formed The Gray Craig Park Association, named for the dramatic rock outcroppings which border the property and stocked the land with wild and exotic game and birds.

Between 1924 and 1926, Mary and Michael van Beuren engaged New York architect Harrie T. Lindeburg to design a home for them in Portsmouth, Rhode Island. Lindeburg wanted a more dramatic setting and encouraged the van Beurens to purchase the Gray Craig property instead, and there he constructed a grand English country estate. The home remained in the van Beuren family for 60 years.  Recently, Gray Craig has been restored to the highest standards, including installation of a state-of-the-art heating and air conditioning system, brand new gym, and wiring for today’s technology. The property also includes a pool, a tennis court, a fish pond with fountain, a stone terrace with outdoor fireplace, heated garages, an enclosed courtyard, and terraced lawns.

THE LOCATION
Newport County, Rhode Island, about 90 minutes from Boston’s Logan International Airport, 30 minutes from Quonset Airport, and 3 hours from Manhattan, is home to numerous cultural and sporting attractions including world renowned jazz, folk, and classical music festivals, the Newport International Film Festival, the Tennis Hall of Fame, exceptional yachting, golf, and polo.

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