Price of private island in Connecticut slashed to $100M

Nice Island, a non-public island in Darien, Conn., is again on the market asking 9 digits for a brand new technology of householders.
Courtesy of Douglas Elliman

There’s no have to jet to the Caribbean when a possibility to snag a non-public island at a serious low cost lies a lot nearer to house — offered you’re a billionaire.

Now listed for $100 million: Nice Island, a roughly 60-acre personal unfold in Connecticut. The Wall Avenue Journal first reported the itemizing.

The roughly 60-acre unfold first listed in 2016 for $175 million.

Courtesy of Douglas Elliman

Nice Island initially listed for $175 million in 2016, as The Publish reported on the time, marking its first time up for grabs since 1902. What’s extra, if the car-accessible property had traded fingers for that princely sum, it will have damaged the document for the costliest property ever bought within the US.

Perched on Lengthy Island Sound, the itemizing has scenic views in each route.

Courtesy of Douglas Elliman

Finally, it met a unique destiny. In 2018, it lowered its asking worth to $120 million; come 2019, it was taken off the market solely.

The island, in Darien some 50 miles from Manhattan, has greater than 1 mile of shoreline alongside Lengthy Island Sound. It’s accessed through a causeway and features a roughly 13,000-square-foot most important home with views of the Sound from almost each room. Its basement has a Prohibition-era wine cellar with bottles of whiskey from that point. This house has reportedly stood vacant for many years and may have a renovation.

Among the many buildings on the island: an equestrian facility.

Courtesy of Douglas Elliman

Different perks embrace a strip of personal seaside.

Courtesy of Douglas Elliman

Different buildings on the island embrace a Nineteenth-century Colonial home that’s since been renovated and an equestrian facility with indoor and out of doors using rings, plus a polo discipline, amongst its different inclusions.

The brand new asking worth is “very practical,” the itemizing agent, Jennifer Leahy of Douglas Elliman, instructed the Journal. “Though I’d like to say there are numerous patrons that may purchase a $100 million property, there aren’t. That is for the 1% of the 1%.”

Accessed through a causeway, Nice Island and its residential buildings could be reached by automotive.

Courtesy of Douglas Elliman

Nice Island belongs to the descendants of the baking powder entrepreneur William Ziegler. Ziegler, a founding father of the Royal Baking Powder Firm, bought it across the flip of the twentieth century and used the property as a summer season house, based on the Journal. He died in 1905, and ever because it has stayed within the household.

Immediately, it’s owned by a belief managed by the Steinkraus household, who're descendants of Ziegler’s granddaughter, Helen. Certainly one of Helen’s sons, 56-year-old Philip, instructed the Journal that regardless of having lifelong ties to Nice Island, he and his brothers have merely moved on. He added that the brand new asking worth, partly, owes itself to a number of property strains being redrawn. As an example, a neighboring waterfront parcel was eliminated and is now underneath possession by one other a part of the household.

That $175 million ask was additionally set by members of the family who've since handed away, and “there have been no comps to match it to and we had been flying blind,” he instructed the Journal.