When the doors of the 27‑acre mansion at Gray Craig finally swung open in 2011, the drama was already in motion. The estate, a 24,000‑square‑foot stone palace with 12 bedrooms, 10 bathrooms, a tennis court, a gym, and a pool, had once dazzled the market with its ocean‑view splendor.
The property sits just a stone’s throw from Sachuest Beach in Middletown, Rhode Island, and its proximity to Newport gave it a classic New England aura that would fit right into a period drama. The mansion’s sheer scale and luxury amenities made it a real‑life set worthy of any blockbuster.
Andrew and Pamela Constantine of Sandwich, Massachusetts, finally walked through those gates. Andrew, who’d watched the estate’s grandeur since 1986, said, "We’d seen it before, but missed it. When it became available again, we decided to pursue it." Their purchase was driven by a restoration vision, a plan to bring Gray Craig back to its former glory.
Cage’s ownership, however, was a short‑lived chapter. After buying the property in 2007, he faced mounting back taxes that forced him to accept a price far below his original investment. The sale price of $6.2 million in 2011 reflected a $9.5 million loss, a stark reminder that Hollywood fortunes can be as volatile as a dramatic climax.
The transaction’s ripple goes beyond the actor’s bank account. It showcases how even high‑profile properties can suffer steep devaluations when financial pressures mount. For the Constantines, the estate is a new script to write, and their restoration plans promise a fresh chapter for the historic mansion.
What comes next? If the Constantines stay true to their restoration pledge, Gray Craig could once again stand as a landmark of elegance. For Cage, the loss might serve as a cautionary tale—a plot twist that reminds fans that fame doesn’t shield one from fiscal plot holes.