The Sackler Family: Wealth, Controversy, And Real Estate Holdings

The billionaire Sackler family has been in the news a lot lately. They are the family behind Purdue Pharma, which for years was primarily known for selling arthritis medicine, earwax remover, and disinfectants. Then OxyContin launched in 1996 and changed the fortunes of the company and its founding family. OxyContin also launched the opioid epidemic across the globe. As a result, Purdue Pharma and the Sackler family have been embroiled in several lawsuits brought against them by states and cities across the U.S. Before all of that trouble started, however, the Sacklers were known for their contributions to philanthropy and their massive real estate portfolio.

In October, Purdue agreed to plead guilty to three felonies in relation to how it marketed OxyContin as part of an $8.34 billion settlement. Purdue filed for bankruptcy protection in 2019. It should absolutely be noted that no members of the Sackler family have been charged with any wrongdoing.

The Sackler family may be regrouping from the lawsuits against their company, but while they do so they can relax in comfort and style at any number of the luxurious homes owned by family members. Below we take a look at some of the Sackler family's most prestigious property holdings in the U.S. Members of the family also own homes in England, the South of France, and Switzerland.

Table of Contents

• Biography of the Sackler Family
• Real Estate Holdings
• Greenwich, Connecticut
• Los Angeles, California
• The Hamptons, New York
• Manhattan Properties
• Final Thoughts

Biography of the Sackler Family

The Sackler family is best known for their ownership of Purdue Pharma, the company responsible for the controversial painkiller OxyContin. This family's journey from a pharmaceutical business to the center of a global opioid crisis is complex and multifaceted. Originally, the Sacklers built their wealth through various pharmaceutical ventures, but their legacy is now heavily intertwined with the ongoing opioid epidemic and the legal battles that have ensued.

Real Estate Holdings

The Sackler family is known not only for their pharmaceutical empire but also for their extensive real estate holdings across the United States and internationally. Their properties range from luxurious estates in the Hamptons to prime real estate in Manhattan. These holdings reflect their wealth and also serve as a base for their philanthropic endeavors.

Greenwich, Connecticut

The two homes owned by the late Raymond Sackler, his wife Beverly, and their son Jonathan are the crème-de-la-crème of luxury real estate in the Greenwich area. That is where Purdue Pharma is headquartered. Both estates are located on Belle Haven peninsula on chic Field Point Circle. Raymond and Beverly's home was built in 1949. They purchased it in 1973. The other property was bought by Jonathan Sackler in 1990 for $750,000. The home on that property was appraised at $12.1 million.

Los Angeles, California

David Sackler and his wife Joss Sackler bought an estate in Bel Air in March 2018 for $22.5 million in cash. The 10,000-square-foot estate with a long, private driveway was built in the 1980s. The home is set on four acres, has a two-story atrium, spiral staircase, amazing views, tennis court, pool, media room, game room, and gym. The master suite occupies almost the entire second floor.

The Hamptons, New York

Mortimer D.A. Sackler is the son of Purdue founder Mortimer Sackler. He and his wife Jacqueline own a 3.4-acre estate in Amagansett, New York. The home is located roughly half a mile from Amagansett Beach. They bought the estate in 2008 for $10 million. In 2011, they renovated and expanded the estate at a cost of $2.85 million.

Manhattan Properties

The Sackler family owns condos in some of the most prestigious buildings in Manhattan. They have property at 980 Fifth Avenue on New York's Museum Mile. They also own property in Central Park West's San Remo, where neighbors include Bono, Demi Moore, and Steve Martin. Theresa Sackler, the widow of Mortimer Sackler, owns a corner apartment on a high floor at 980 Fifth. Ilene Sackler Lefcourt, Mortimer Sackler's daughter, owns a 3,100-square-foot home in the San Remo. The Sackler family also owns a large townhouse known as the Alfred Rossin House on East 62nd Street. The townhouse was built in the late 1870s. In January 2020, Mortimer D.A. Sackler sold a five-story townhouse off Fifth Avenue for $38 million.

Final Thoughts

The Sackler family's journey reflects the complex interplay between wealth, responsibility, and the impact of their business decisions. While they are known for their luxurious lifestyles and extensive real estate holdings, the controversies surrounding Purdue Pharma and the opioid crisis continue to shape their legacy. Understanding their story provides insight into the broader implications of pharmaceutical practices and corporate ethics.