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Billionaire Stewie Rahr's Old Sagg Place Sells for $7M

Real LI notes that after hitting the market for almost $8 million in September of this year, pharmaceutical billionaire Stewie Rahr's former Sagaponack beach house has officially sold. With 7,000 square feet and a final sale price of $7 million, the property ultimately traded for about $1,000/foot. Stewie Rahr's alter ego, The Number One King of Fun, would totally approve! The property last traded in 2006 for $6.1 million and had a pretty easy time on the market; the only setback was a $500,000 PriceChop in Novemeber. Unfortunately, the new buyer is masked behind an LLC, so no word on whether or the new owner is as colorful as the former one.
· Sagaponack South Oceanview Traditional [Corcoran]
· Rich Cribs [Real LI]