Saturday, November 22, 2025
DIGESTWIRE
Contribute
CONTACT US
  • Home
  • World
  • UK
  • US
  • Breaking News
  • Technology
  • Entertainment
  • Health Care
  • Business
  • Sports
    • Sports
    • Cricket
    • Football
  • Defense
  • Crypto
    • Crypto News
    • Crypto Calculator
    • Coins Marketcap
    • Top Gainers and Loser of the day
    • Crypto Exchanges
  • Politics
  • Opinion
  • Blog
  • Founders
No Result
View All Result
  • Home
  • World
  • UK
  • US
  • Breaking News
  • Technology
  • Entertainment
  • Health Care
  • Business
  • Sports
    • Sports
    • Cricket
    • Football
  • Defense
  • Crypto
    • Crypto News
    • Crypto Calculator
    • Coins Marketcap
    • Top Gainers and Loser of the day
    • Crypto Exchanges
  • Politics
  • Opinion
  • Blog
  • Founders
No Result
View All Result
DIGESTWIRE
No Result
View All Result
Home Breaking News

This billionaire is putting up more buildings on his MDI compound

by DigestWire member
March 21, 2025
in Breaking News, World
0
This billionaire is putting up more buildings on his MDI compound
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

A billionaire who is a minority owner of an NFL football team has more buildings under construction in a wealthy neighborhood on Mount Desert Island.

Mitchell Rales, who lives in the Washington D.C. area when not in Maine and is part of the Commanders ownership group, continues to redevelop Ringing Point on Cooksey Drive in Seal Harbor, which he bought in 2018 for $19 million. The property previously had been owned for decades by fellow billionaire David Rockefeller Sr., who passed away in 2017 at the age of 101.

Rales had Rockefeller’s former 7-bedroom home on the property demolished in 2022 and, that same year, began to redevelop the 15-acre oceanfront property, which is named for the sounds emitted by a bell buoy anchored offshore. Rather than construct a large traditional house with multiple bedrooms, a kitchen, and various living spaces all under one roof, Rales is building a half dozen smaller cottages on the property that will serve different functions.

In 2022, Rales got a permit from the town of Mount Desert to build a $4.5 million, 2,900 square-foot building to serve as a gathering space for Rales, his family and friends. It has two half-bathrooms, a kitchen, a dining area and a living area separated by a two-sided fireplace, but no bedrooms. It is the only building on the property with a second story — a mezzanine that overlooks the living area.

This photo shows a 2,900 square-foot building at Mitchell Rales’ Ringing Point estate in Seal Harbor under construction in 2023. The building is designed as a gathering space but has no bedrooms, which are being built in other cottages spread out on the billionaire’s 15-acre waterfront property. Credit: Town of Mount Desert

The following year, Rales was approved to build a $2.75-million, 1,600 square-foot cottage on the property that serves as sleeping quarters.

Four more buildings now under construction on the property were approved last year by the town. Two of them are residential suites with bedrooms and full bathrooms, each with a little more than 1,000 square-feet of living space and a construction price tag of $2 million.

A third building under construction is a $2.75-million, 1,500 square foot sleeping cottage, and a fourth is a 1,000 square-foot study being built for $2.5 million.

A previous 2,000 square-foot guest cottage on the property, which Rockefeller had built in 1972, has been demolished this winter.

Another Rales building project currently under way on MDI is across the street at 46 Cooksey Drive. That property, which Rales bought in 2019 for $2.8 million, has served as a staging area for the demolition and construction work happening at Ringing Point.

Rales demolished a $1.7 million house on this property in 2023 and now is constructing a large building on it for $3.5 million. The structure, which consists of two halves spaced apart but connected by a roof that bridges over the gap, will be used as an operations building by Rales’ personal staff. It will have a garage, a workshop, offices, a laundry room, a kitchen, a lounge and living quarters.

Rales also is expected to redevelop another residential property in the neighboring village of Northeast Harbor, which he bought in 2022 for $6.8 million.

Last year he demolished a 5,000 square-foot house that had been built in 1904 at 79 Peabody Drive, which directly overlooks the harbor. He has been issued a permit to construct a foundation for a new house at this same address, but so far has not built the foundation or submitted plans for what might be constructed on the 5-acre property.

It would be the second property in Northeast Harbor that Rales has redeveloped. In 2007 he bought Blueberry Ledge, the former home of Washington socialite Susan Mary Alsop, for $5.5 million and then tore that down. He replaced it with an 8,000 square-foot contemporary-design mansion that he still owns.

Read Entire Article
Tags: BangordailynewsBreaking NewsWorld
Share30Tweet19
Next Post
This $8.1M plan could completely transform a busy Brewer street

This $8.1M plan could completely transform a busy Brewer street

Facing anti-DEI investigations, colleges cut ties with nonprofit targeted by conservatives

Facing anti-DEI investigations, colleges cut ties with nonprofit targeted by conservatives

2025 G.A.N.G Awards: ‘Star Wars Outlaws,’ ‘Spider-Man 2’ and ‘The Outlast Trials’ Lead Winners

2025 G.A.N.G Awards: ‘Star Wars Outlaws,’ ‘Spider-Man 2’ and ‘The Outlast Trials’ Lead Winners

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result
Coins MarketCap Live Updates Coins MarketCap Live Updates Coins MarketCap Live Updates
ADVERTISEMENT

Highlights

May Jabareen, Producer of Cairo Award Winner ‘Ping-Pong,’ on the Issues Dealt With in the Palestinian Film, and Upcoming Projects

Trump pledge to ‘immediately’ end protections for Minnesota Somalis sparks fear and legal questions

JFK’s granddaughter reveals terminal cancer diagnosis, criticizes cousin RFK, Jr.

Eindhoven Airport closed after drone sightings

What did COP30 achieve after failing to reach deal on fossil fuels?

XRP ETFs Could See Aggressive Accumulation – Here Are The Numbers

Trending

17 Loose Thanksgiving Dresses on Amazon That Will Still Arrive in Time — From $7
Entertainment

17 Loose Thanksgiving Dresses on Amazon That Will Still Arrive in Time — From $7

by DigestWire member
November 22, 2025
0

Thanksgiving is somehow days away, and if you’re still scrambling for a comfy-cute dress, trust Us —...

‘The Devil Wears Prada 2’: Dwayne Johnson Pitched a Part for Himself to ‘Smashing Machine’ Co-Star Emily Blunt

‘The Devil Wears Prada 2’: Dwayne Johnson Pitched a Part for Himself to ‘Smashing Machine’ Co-Star Emily Blunt

November 22, 2025
How ‘Wicked: For Good’ Introduces Dorothy and All ‘The Wizard of Oz’ Characters (Including Toto)

How ‘Wicked: For Good’ Introduces Dorothy and All ‘The Wizard of Oz’ Characters (Including Toto)

November 22, 2025
May Jabareen, Producer of Cairo Award Winner ‘Ping-Pong,’ on the Issues Dealt With in the Palestinian Film, and Upcoming Projects

May Jabareen, Producer of Cairo Award Winner ‘Ping-Pong,’ on the Issues Dealt With in the Palestinian Film, and Upcoming Projects

November 22, 2025
Trump pledge to ‘immediately’ end protections for Minnesota Somalis sparks fear and legal questions

Trump pledge to ‘immediately’ end protections for Minnesota Somalis sparks fear and legal questions

November 22, 2025
DIGEST WIRE

DigestWire is an automated news feed that utilizes AI technology to gather information from sources with varying perspectives. This allows users to gain a comprehensive understanding of different arguments and make informed decisions. DigestWire is dedicated to serving the public interest and upholding democratic values.

Privacy Policy     Terms and Conditions

Recent News

  • 17 Loose Thanksgiving Dresses on Amazon That Will Still Arrive in Time — From $7 November 22, 2025
  • ‘The Devil Wears Prada 2’: Dwayne Johnson Pitched a Part for Himself to ‘Smashing Machine’ Co-Star Emily Blunt November 22, 2025
  • How ‘Wicked: For Good’ Introduces Dorothy and All ‘The Wizard of Oz’ Characters (Including Toto) November 22, 2025

Categories

  • Blockchain
  • Blog
  • Breaking News
  • Business
  • Cricket
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Football
  • Founders
  • Health Care
  • Opinion
  • Politics
  • Sports
  • Strange
  • Technology
  • UK News
  • Uncategorized
  • US News
  • World

© 2020-23 Digest Wire. All rights belong to their respective owners.

No Result
View All Result
  • Home
  • World
  • UK
  • US
  • Breaking News
  • Technology
  • Entertainment
  • Health Care
  • Business
  • Sports
    • Sports
    • Cricket
    • Football
  • Defense
  • Crypto
    • Crypto News
    • Crypto Calculator
    • Blockchain
    • Coins Marketcap
    • Top Gainers and Loser of the day
    • Crypto Exchanges
  • Politics
  • Opinion
  • Strange
  • Blog
  • Founders
  • Contribute!

© 2024 Digest Wire - All right reserved.

Privacy Policy   Terms and Conditions

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.