Billionaire Sackler Family Behind Oxycontin Scandal Owns Massive Real Estate Portfolio

The billionaire Sackler household has been within the information loads these days. They’re the household behind Purdue Pharma, which for years was primarily recognized for promoting arthritis drugs, earwax remover, and disinfectants. Then OxyContin launched in 1996 and altered the fortunes of the corporate and its founding household. OxyContin additionally launched the opioid epidemic throughout the globe. Consequently, Purdue Pharma and the Sackler household have been embroiled in a number of lawsuits introduced in opposition to them by states and cities throughout the U.S. Earlier than all of that hassle began, nonetheless, the Sacklers have been recognized for his or her contributions to philanthropy and their large actual property portfolio.

In October, Purdue agreed to plead responsible to 3 felonies in relation to the way it marketed OxyContin as a part of an $8.34 billion settlement. Purdue filed for chapter safety in 2019. It ought to completely be famous that no members of the Sackler household have been charged with any wrongdoing.

The Sackler household could also be regrouping from the lawsuits in opposition to their firm, however, whereas they do to allow them to chill out in consolation and magnificence at any variety of luxurious houses owned by members of the family. Beneath we check out among the Sackler household’s most prestigious property holdings within the U.S. Family members additionally personal houses in England, the South of France, and Switzerland.

Greenwich, Connecticut
The 2 houses owned by the late Raymond Sackler, his spouse Beverly, and their son Jonathan are the crème-de-la-crème of luxurious actual property within the Greenwich space. That’s the place Purdue Pharma is headquartered. Each estate is situated on Belle Haven peninsula on stylish Area Level Circle. Raymond and Beverly’s dwelling was built in 1949. They bought it in 1973. The opposite property was purchased by Jonathan Sackler in 1990 for $750,000. The house on that property was appraised at $12.1 million.

Los Angeles, California
David Sackler, Joss Sackler
David Sackler and his spouse Joss Sackler purchased a property in Bel Air in March 2018 for $22.5 million in money. The 10,000-square-foot property with an extended, personal driveway was constructed within the 1980s. The house is ready on 4 acres, has a two-story atrium, spiral staircase, superb views, tennis court docket, pool, media room, recreation room, and gymnasium. The master bedroom occupies virtually your complete second ground.

The Hamptons, New York
Mortimer D.A. Sackler, Jacqueline Sackler
Mortimer D.A. Sackler is the son of Purdue founder Mortimer Sackler. He and his spouse Jacqueline personal a 3.four acre property in Amagansett, New York. The house is situated roughly half a mile from Amagansett Seashore. They purchased the property in 2008 for $10 million. In 2011, the renovated and expanded the property at a value of $2.85 million.

Manhattan
Theresa Sackler, Ilene Sackler Lefcourt, different members of the family
The Sackler household owns condos among the most prestigious buildings in Manhattan. They’ve property at 980 Fifth Avenue on New York’s Museum Mile. In addition they personal property in Central Park West’s San Remo, the place neighbors embody Bono, Demi Moore, and Steve Martin. Theresa Sackler, the widow of Mortimer Sackler, owns a nook condo on excessive ground at 980 Fifth. Ilene Sackler Lefcourt, Mortimer Sackler’s daughter, owns a 3,100-square-foot dwelling in San Remo. The Sackler household additionally owns a big townhouse often called the Alfred Rossin Home on East 62nd Road. The townhouse was constructed within the late 1870s. In January 2020, Mortimer D.A. Sackler offered a five-story townhouse off Fifth Avenue for $38 million.

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