When Jay Leno stepped away from The Tonight Show, most people might have imagined a quieter life. Perhaps fewer cameras, more holidays and, for a man whose idea of restraint involves owning more than 150 cars, another suitably enormous garage. Instead, Leno bought himself a mansion. In Newport, Rhode Island, he acquired Seafair Estate for $13.5 million, a sprawling 15,851 square foot oceanfront property spread across nine acres of prime coastline. And while Leno is best known for collecting automobiles, this particular acquisition suggests he knows a thing or two about collecting real estate as well.
Built in 1936 by James Mackenzie Jr., Seafair was commissioned for Verner Zevola Reed Jr., a Denver mining heir whose career eventually took him from banking to diplomacy. Reed later became Vice President of Chase Manhattan Bank and served as the United States Ambassador to Morocco, giving the property a pedigree that is rather more distinguished than your average celebrity mansion.
Inside, Seafair feels less like a modern celebrity home and more like a perfectly preserved chapter from another America. The 12 bedroom, 13 bathroom residence retains its original Louis XVI detailing, alongside a grand formal dining room, panelled library, chef’s kitchen and enclosed loggia. Wrought iron staircases add a touch of theatricality, while two elevators make the business of moving around a 15,851 square foot house considerably less exhausting.
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Then there is the outside. The estate comes with a private beach, a secluded cove with its own mooring, tennis court, walled gardens and a six car garage. Six cars, naturally, sounds impressive until you remember that this is Jay Leno we are talking about. For someone with a collection reportedly numbering more than 150 automobiles, six garage spaces are less a storage solution and more an opening argument.
What makes the purchase particularly interesting, however, is the price. Leno reportedly paid $13.5 million for the entire estate, while the property was later listed for $19 million. Suddenly, the comedian’s ability to spot value begins to look almost as impressive as his ability to spot a rare automobile.
There is something fitting about Leno owning a house like Seafair. His car collection has always been about more than simply accumulating expensive machines. It reflects a fascination with craftsmanship, history, engineering and the stories attached to objects. Seafair offers much the same proposition, only with considerably more bedrooms and a view of the Atlantic. The irony is delicious. The man who spent decades collecting some of the world’s most desirable cars may have made one of his smartest acquisitions without an engine, gearbox or steering wheel. Turns out Jay Leno may have found his best collector’s item in real estate.
