Melanie Delman of Lila Delman Real Estate International announced the sale of “Fairholme” and represented the seller and facilitated for the buyer. The property, which sits on 4.3 acres with ocean frontage, closed for $16.1 million, according to data from the statewide Multiple Listing Service. The buyer, Fairholme LLC has chosen to remain anonymous.
The 1875 Tudor revival is considered a masterpiece and it includes a grand Horace Trumbauer designed ballroom, endless rooms, carriage house, greenhouses, tiled swimming pool and a cabana pavilion that overlooks the Atlantic.
“Fairholme is one of the most beloved estates in Newport,” Melanie Delman said.
The property was remodeled in 1905 by John R. Drexel. Under the Drexel’s ownership the home had many notable visitors including The Duke & Duchess of Windsor, and President John F. Kennedy whose family would often use the pool in the summers. Robert A. Young and his wife Anita O’Keeffe, sister of Georgia O’Keeffe acquired Fairholme in 1955. They had one daughter, Eleanor “Cookie” Young, who became one of the much-publicized “Glamour Debutantes” of the Great Depression-era.