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Billionaire Stephen Schwarzman’s $48 Million Estate – An Aerial View

May 18, 2014 by Billionaire Addresses

Today’s mansion and estate are owned by Stephen Schwarzman, the co-founder and CEO of The Blackstone Group, a private equity firm and his wife Christine. The Water Mill, New York home was formerly owned by Carter Burden, heir to Cornelius Vanderbilt. Schwarzman purchased the home in 2005 for $34M. After renovating the property, Zillow now estimates the property at $48 Million. More on the house below.

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Billionaires Stephen and Christine Schwarzman

Billionaires Stephen and Christine Schwarzman

His wife Christine married Austin Chilton Hearst, grandson to William Randolph Hearst, in 1984 and they share one daughter together. She later married Schwarzman in 1995, who is known as one of the world’s most powerful financiers and co-founder of the Blackstone group. A little inside gossip: The Schwarzman’s are well known spendthrifts, known to spend absurd amounts of money on birthday parties, lavish homes, and stone crabs to name a few of their extravagances.

Overview of The Blackstone Group cofounder and CEO's estate in Water Mill, NY

Overview of The Blackstone Group co-founder and CEO’s estate in Water Mill, NY

Another aerial angle of the mansion and estate.

Another aerial angle of the mansion and estate.

Showing the privacy because of the way the property is situated.

Showing the privacy asset based on the way the property is situated.

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Just a few other aerial angles of the estate.

Just a few other aerial angles of the estate.

Just a few other aerial angles of the estate.

Just a few other aerial angles of the estate.

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Another view of some of the updated landscaping.

Another view of some of the updated landscaping.

The estate also had some updating done to outside landscape design.

The estate also had some updating done to outside landscape design.

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After purchasing the property, Stephen Schwarzman had the home and other buildings completely remodeled, completing it in 2005

After purchasing the property, Stephen Schwarzman had the home and other buildings completely remodeled, completing it in 2005

The Schwarzman estate in Water Mill has an annual base property tax of $148,000.00.

The Schwarzman estate in Water Mill has an annual base property tax of $148,000.00.

The estate sits on 9.9 acres and was bought by Schwarzman in 2004 for $38 million.

The estate sits on 9.9 acres and was bought by Schwarzman in 2004 for $38 million.

Click on images for full page view.

An aerial view of Stephen Schwarzman property. In the back ground is a body of water known as Mudd Creek.

An aerial view of Stephen Schwarzman property. In the back ground is a body of water known as Mudd Creek.

The billionaire mansion has 9 bedrooms and 12 bathrooms

The main mansion has 9 bedrooms and 12 bathrooms

The main residence is a 40 room

The main house is a 28,835 square foot mansion.

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Main Entrance and Overview of The Blackstone Group cofounder and CEO Stephen Schwarzman's estate in Water Mill, NY

Main Entrance and Overview of The Blackstone Group cofounder and CEO Stephen Schwarzman’s estate in Water Mill, NY

An overview of the mansion and estate from Mecox Bay

An overview of the mansion and estate from Mecox Bay.

A higher aerial view showing the surrounding area of the billionaires address.

A higher aerial view showing the surrounding area of the billionaires address.

And even a higher aerial view showing the Schwarzman's estate in relation to the ocean.

And even a higher aerial view showing the Schwarzman’s estate in relation to the ocean.

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