Astor's Beechwood in Newport for Sale--for $16 million

The Providence Journal, August 15, 2007 by Richard Salit, Journal Staff Writer

The 39-room mansion was built in 1851, and sold 30 years later to the grandson of John Jacob Astor.

The Bellevue Avenue mansion that was once the summer home of the illustrious Astor family and which has been described as the place "where American society began" is for sale.

With its asking price of $16 million, Astors' Beechwood could easily become one of the most expensive estates ever sold in Rhode Island, let alone Newport.

"Oceanfront Spectacular Gilded Age Mansion," reads an advertisement that appeared in Saturday's Wall Street Journal.  "This magnificient estate boasts a dramatic setting on fabled Bellevue Avenue."

The 39-room mansion, which sits on 5 acres overlookinig the Cliff Walk and the ocean, was built in 1851. It was sold in 1881 to William Backhouse Astor Jr., grandson of John Jacob Astor and heir to the family's real estate fortune.  His wife, Caroline, known as Line, "became the undisputed queen of American society," according to Lila Delman Real Estate, the listing agent for the property. 

When the couple bought the 19,000-square-foot Italiante mansion, they hired noted Newport architect Richard Morris Hunt to make Astors' Beechwood even more spectacular.

"Hunt's most notable addition to the home was the glittering waterfront ballroom," according to Delman Real Estate.  Conceived with an ocean theme, this showpiece features oak parquet floors in a wave-like reverse-herring-bone pattern, seaweed-shaped brass sconces, and bas-reliefs depicting Poseidon and Aphrodite.  Eight hundred panes of glass, including mirrored walls and abundant French doors, produce a shimmering effect that is enhanced by elaborate gilt ornamentation and water-drop-crystal chandeliers."

Singer Cole Porter is said to have written "Night and Day" during a visit and the mansion appeared in the movie High Society, starring Fred Astaire and Grace Kelly.

For many years, Astors' Beechwood was used for weddings and other functions and as a tourist attraction, with actors portraying family members and guests of Caroline Astor.

On Monday, New York philanthropist Brooke Astor died at the age of 105.  In 1953, she married Vincent Astor, the eldest son of John Jacob Astor IV, who died in the sinking of the Titanic.

A year ago, the property, owned by a partnership called Historic Newport, became embroiled in legal battle.  Review Realty Corp., a one-third owner, sued majority owner Richard B.  Milligan, Jr. for mismanagement.  The two sides reached a settlement in which Milligan bought out Review Realty.  At that time, in July of last year, Milligan said the property wasn't for sale and that he planned to continue providing mansion tours and renting it for functions.

Last December, another Bellevue Avenue property set the record for the most paid for an estate on Aquidneck Island.  The 7.8-acre Miramar estate sold for $17.15 million to an undisclosed buyer.

Last week, it was reported that actor Nicolas Cage bought the 26-acre Gray Craig estate in Middletown for $15.7 million.

The Providence Journal, August 15, 2007

By Richard Salit, Journal Staff Writer