Billionaire Steve Schwarzman and his wife plan to open their neoclassical mansion, Miramar estate, in Newport, Rhode Island to the public following their deaths. Miramar, located on Bellevue Avenue, was originally designed by architect Horace Trumbauer for streetcar magnate George Dunton Widener and his wife, Eleanor, in the early 1990s. The Schwarzmans purchased the property for $27 million in 2021 and underwent a three-year renovation to restore it to its former glory. They have curated period-correct art and sourced antique furniture and decor to create a museum-like experience for visitors.
The Schwarzmans’ vision for Miramar is to set it up as a private museum for the benefit of the public in perpetuity. The museum will be run by a private foundation with an endowment to cover operation and upkeep costs. The couple’s decision to open Miramar is part of their philanthropic endeavors, showing their commitment to historic preservation and sharing their collection with the community. The restoration of the mansion includes paintings and portraits by renowned artists such as Jean-Honoré Fragonard, John Singer Sargent, Vigée Le Brun, and Peter Lely, creating a truly unique experience for visitors.
Miramar adds to the historic mansion offerings in Newport, alongside Marble House and the Breakers which also offer tours to the public. The city is said to be ready to welcome another landmark and admire the Schwarzmans’ dedication to preservation. The CEO of the Preservation Society of Newport County, Trudy Coxe, praised the couple for their love of preservation and the remarkable collection housed at Miramar. The mansion itself is seen as an exceptional example of architecture that could stand on its own as a museum.
The Schwarzman’s commitment to opening Miramar as a public museum is a reflection of their appreciation for the history and value of the property. The mansion has a storied past, changing hands multiple times before being purchased by Goldman Sachs banker David B. Ford in 2006 for a record $17.15 million. The Schwarzmans’ meticulous restoration of the century-old property and their efforts to curate a unique and historically accurate collection for visitors demonstrate their dedication to preserving and sharing the Gilded Age glamour of Miramar.
The decision to open Miramar as a public museum reflects the Schwarzman’s desire to contribute to Newport’s historic preservation and to share their love of architecture and art with the community. The vision for Miramar as a cultural landmark in Newport has been met with enthusiasm, with locals and preservationists alike showing support for the couple’s efforts. The museum, set to offer a glimpse into the luxurious Gilded Age era, will be a welcome addition to the city’s historic mansion offerings and help to ensure the property’s legacy for generations to come.
