Gossipy Maine village rocked by rumors the ‘sultan of Egypt’ has bought huge land parcel to build mega-mansion

A mysterious, wealthy buyer purchased $8.1 million worth of land in the small village of Beaver Cove, Maine, and the 130 residents of the town haven’t stopped talking about their new ominous neighbor. 

The owner purchased the four parcels in 2022 under an LLC and has remained anonymous during business dealings. 

A building permit was filed with the Maine Land Use Planning Commission on August 22 of last year for a mega-mansion in Beaver Cove, which is about two hours outside of Bangor. 

Rumors have quickly spread, speculating who the mystery buyer is, with some residents even joking that the sultan of Egypt may be moving in. 

Joe Babbitt, the Select Board Chair in Beaver Cove, told Bangor Daily News, ‘It’s what everyone is wondering.’

‘There’s all kinds of gossip out there, saying it’s everyone from the sultan of Egypt to ‘insert your billionaire of choice here”.

The building permit detailed a project summary of a ‘year-round dwelling’ including an attached garage, detached garage, driveway, and shed. 

The property takes up 21,135 square feet of land, including areas of Burnt Jacket Mountain.  

A mystery buyer purchased $8.1 million worth of land in the small town of Beaver Cove in Maine 

The ominous sale shocked the residents of Beaver Cove, with speculations over who the ultra-wealthy individual is moving in 

The parcel includes lakefront property on Moosehead Lake, just north of Greenville 

The mountain range had several public hiking trails that were closed to the public last fall after the sale.  

‘We haven’t heard much on it other than that it’s sold; we don’t know why or for what purpose,’ said Beverly Burgess, the owner of a local hotel.

‘There was some chatter initially when it sold, gossip, in the area that it could be someone wealthy, a corporation, someone looking to build a resort,’ she added. 

However, nothing has been confirmed about the owner and their long-term intentions with the massive property. 

The land hasn’t been public property in recent years, but the last several owners have allowed residents to use the walking trails. 

A land appraiser told Bangor Daily News that when the last owner sold the property, they sectioned it off into separate parcels. 

Babbitt said that the board can’t stop the construction and is at a stalemate until they find out more information on the mystery owner.  

‘The number of facts are few and the number of speculation is huge and rampant,’ he said.  

A building permit filed last year detailed a project summary of a ‘year-round dwelling’ including an attached garage, detached garage, driveway, and shed 

The site of the property includes parts of Burnt Jacket Mountain, and public trails were shut down after the sale closed 

Beaver Cove has less than 100 residents who live in the community all year, and the town takes up about 996 acres. 

It sits on the edge of Moosehead Lake, a quiet and serene getaway near the Canadian border. 

Although the area has a tiny population, the rural environment has become a prime location for wealthy homebuyers looking to purchase a second property. 

The new development, shrouded in mystery, has rocked the small community, which is hoping the mega mansion won’t disrupt business as usual. 

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