Billionaire Ira Rennert’s 29-Room Mansion in Sagaponack

Billionaire Ira Rennert is the proud owner of what has been dubbed the ‘largest home in the United States’. Located in Sagaponack, NY, the massive waterfront compound was built on 63 acres of land in 2003.

Featuring 110,000 square feet of space, 29 bedrooms, 39 bathrooms and enough space for an industrial strength helicopter, which has caused a stir between some of his neighbors recently. Built for self-made billionaire Ira Rennert and his family, the estate is located at 261 Daniels Lane and is estimated to be worth around $200 million. The home is arguably one of America’s largest single-family homes and the most expensive and it includes three dining rooms, three swimming pools, two tennis courts, two courtyards, an orangery, a 164-seat screening theater, a pavilion housing a basketball court, a gym, and a two-land bowling alley. It has been reported that Rennert also had a private museum built to accommodate and showcase his massive art collection.

Rennert is reportedly worth around $5.4 billion, the majority of which he made in the junk bond market in the 1980s. Today. Rennert’s Renco is one of the largest holding companies in the U.S. and he also has holdings in RG Steel, US Magnesium and the Roe Run Company in Peru.

Rennert, 78, is currently listed as #189 on the Forbes Billionaire list and #59 in the U.S. He is #55 on the Forbes 400. He received a Bachelor of Arts/Science from Brooklyn College and a Master of Business Administration from New York University. He is married and has three children.

Image: Forbes

Ira Rennert’s Fair Field Estate (2026 Update)

Ira Rennert’s sprawling 63-acre Fair Field estate in Sagaponack, Long Island remains one of the largest and most valuable residential properties in the United States. Since this 2012 article, the estate’s estimated value has grown significantly amid the Hamptons real estate boom. Rennert, the industrialist behind Renco Group, has faced legal challenges over the years regarding his business dealings, but the estate — with its 29 bedrooms, 39 bathrooms, and massive square footage — continues to fascinate real estate enthusiasts and remains a landmark of American residential excess.

Fair Field Estate: By the Numbers

To truly grasp the scale of Ira Rennert’s compound, consider these figures:

• Main house: 29 rooms spanning approximately 62,000 square feet
• Total estate footprint: The compound sits on 63 acres along Sagaponack’s oceanfront
• Amenities: Two swimming pools, a 164-seat theater, a basketball court, two tennis courts, two bowling alleys, a formal English garden, and a 10,000-bottle wine cellar
• Garage: Space for over 100 cars
• Staff quarters: Separate building with its own kitchen and living spaces
• Power plant: The estate has its own 100,000-gallon septic system and electrical plant
• Estimated value: While never officially appraised publicly, real estate experts have estimated the property’s value between $200 million and $500 million, making it one of the most valuable residential properties in the United States

How Fair Field Compares to Other American Mega-Mansions

Note: Biltmore is technically larger in square footage but operates as a museum/tourist attraction, not a private residence. Fair Field is the largest privately occupied home in the United States.

Frequently Asked Questions

How big is Ira Rennert’s mansion?

The main house at Fair Field estate is approximately 62,000 square feet with 29 rooms. The total compound sits on 63 acres of oceanfront land in Sagaponack, New York, and includes multiple additional structures, two pools, a 164-seat theater, bowling alleys, tennis courts, and a basketball court. The entire estate is considered the largest privately occupied residential compound in the United States.

What is Fair Field estate worth?

While no official appraisal has been made public, real estate experts estimate Fair Field’s value between $200 million and $500 million. The 63-acre oceanfront location in Sagaponack — one of America’s most expensive zip codes — accounts for much of the value. The estate was built at an estimated construction cost of over $100 million in the early 2000s.

Is Fair Field the largest house in America?

Fair Field is the largest privately occupied residential compound in the United States. While the Biltmore Estate in Asheville, NC (178,926 sq ft) is technically larger, it operates as a museum and tourist attraction, not a private home. Among currently occupied private residences, Fair Field’s approximately 62,000 square feet of main-house space, plus its ancillary buildings across 63 acres, make it the largest.

How many rooms does Ira Rennert’s mansion have?

The main house has 29 rooms, including multiple living rooms, dining rooms, a library, and staff quarters. The compound also includes a separate playhouse, staff building, and a 164-seat theater — bringing the total room count across all structures well above 29.

Where is Ira Rennert’s mansion located?

Fair Field estate is located in Sagaponack, a village in the Town of Southampton on Long Island’s South Fork, New York. Sagaponack consistently ranks among the most expensive zip codes in America. The estate fronts the Atlantic Ocean and is a short drive from the Hamptons’ main social scene in East Hampton and Bridgehampton.