Gov. Paul LePage and his wife have made a $182,500 profit on the sale of the Boothbay colonial home they purchased just four years ago.

A Coldwell Banker website says the couple sold the house in June for $397,500 after buying it for $215,000 in summer 2014. The sale price was $11,500 below their original asking price of $409,000.

The LePages put the 2,200-square-foot home, which was built in 2002 and sits on a 2-acre lot, on the market last fall. The deed was transferred to the new owner, Kevin J. Shanaghan of Belfast, on June 29, according to the Lincoln County News.

At the time the LePages bought the three-bedroom residence, it was in bank foreclosure. The home on Firth Drive in Muirgen – a private development off Back Narrows Road – was appraised by the town of Boothbay at $453,000 in 2014, and the average house value in that development was about $700,000. Muirgen is home to a mix of mostly wealthy out-of-state residents and retirees.

At the time, it appeared that the couple had acquired the home to retire in once the Republican governor left office. In November 2014, LePage was re-elected to a second term.

It’s not clear what the 69-year-old governor’s retirement plans will be after he leaves office, but the couple does own a home in Florida.


LePage’s spokeswoman, Julie Rabinowitz, was traveling out of town on business and could not be reached for comment Wednesday. Another spokesperson, Peter Steele, did not respond to an email request for comment Wednesday evening.

In a 2014 interview, LePage’s re-election campaign spokesman, Alex Willette said, “They (the LePages) had been searching for quite some time for a property on the coast.”

“Paul’s dream was to own a place on the ocean, and we’ve been looking for about 10 years. We found a great piece of property at a great price, and frankly, who wouldn’t want to live in Boothbay,” Ann LePage told the Lincoln County News in 2014.

Dennis Hoey can be contacted at 791-6365 or at:

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