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Pharmaceutical Billionaire Stewie Rahr's Old Pad Hits Market, Again

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Before billionaire pharmaceutical executive Stewie Rahr upgraded to a $40 million Wainscott compound, he called this nearly 7,000-square-foot Sagaponack spread home. With ocean views, a tennis court, and a very, very South of the Highway address, it's hard to understand why Rahr ever left (that is, until you peek around his new place). But after finding a buyer in a top Blackstone executive back in 2005, who was willing to pony up $6.1 million, Rahr sealed the deal. Today, the Blackstone exec is looking to sell the place for an inflated sum of $7.995 million; whether or not he plans to trade up like Rahr did remains a mystery. To help sell the place, try telling buyers that the former owner was pretty good friends with Bill Clinton, which is kinda like having Chelsea Clinton get married in your backyard.
· Listing: Sagaponack South Oceanview Traditional with Tennis [Corcoran]