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Connecticut town in contract to buy $100M private island

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#Connecticut #city #contract #purchase #100M #non-public #island

No man is an island — and maybe, as an alternative of a person purchaser, that’s why the prosperous suburb of Darien, Conn., is shopping for a grand non-public island situated proper within the city itself.

The Wall Avenue Journal stories that the city — some 50 miles from New York Metropolis — has entered contract to buy the roughly 60-acre Nice Island, owned by descendants of the baking powder entrepreneur William Ziegler, for greater than $100 million. It’s one of many largest remaining undeveloped parcels of land within the space.

Ziegler, who died in 1905, bought it round 1900 to make use of as a summer season residence.

“There’ll by no means be one other alternative for the city to regulate this property’s future, or so as to add an asset to profit all of us like this,” Darien First Selectman Monica McNally stated at an April assembly of the city’s Board of Selectmen. “I consider 200 years from now, when folks have a look at this property, they may look favorably on this transaction.”

Great Island is accessed via a causeway.
Nice Island is accessed through a causeway.
Courtesy of Douglas Elliman
Great Island has about 1 mile of coastline along the Long Island Sound.
Nice Island has about 1 mile of shoreline alongside the Lengthy Island Sound.
Courtesy of Douglas Elliman
A private beach.
A personal seaside.
Courtesy of Douglas Elliman

Different particulars, for now, are unavailable. McNally advised the Journal that inking the contract is simply the “first step” in a multi-layered course of that may want approval from different city officers — and he or she declined to remark additional on the deal.

The unfold listed for sale in February asking a cool $100 million. In 2016, it initially requested a a lot greater $175 million.

Nice Island, which is accessed through a causeway and owned by a belief managed by the Steinkraus household — who’re descendants of Ziegler’s granddaughter Helen — comes with greater than a mile of shoreline alongside the Lengthy Island Sound.

The equestrian facility has an arched ceiling reminiscent of that inside Grand Central -- and it's because the two share an architect in common.
The equestrian facility has an arched ceiling harking back to that inside Grand Central — and it’s as a result of the 2 share an architect in frequent.
Courtesy of Douglas Elliman
The equestrian facility also has a granite stable.
The equestrian facility additionally has a granite steady.
Courtesy of Douglas Elliman
Another shot inside the facility.
One other shot inside the ability.
Courtesy of Douglas Elliman
Spread across some 60 acres, there's plenty of room for outdoor seating.
Unfold throughout some 60 acres, there’s loads of room for out of doors seating.
Courtesy of Douglas Elliman

However greater than an island, it’s additionally house to a centerpiece house — one which was impressed by an Italian villa, measures 13,000 sq. toes and dates to 1905. The island additionally has a guesthouse, a caretaker’s cottage and a deep-water dock.

There’s even an equestrian facility on the land — and its look could seem acquainted to commuters. The late architect Rafael Gustavino, identified for his work on Grand Central Terminal, lent his contact to this amenity — and its arched ceiling resembles that present in elements of the midtown practice station. It additionally has a granite steady, and indoor and out of doors using rings.

Evidently, certainly one of Ziegler’s descendants, the late William Steinkraus, received a gold medal on the 1968 Olympics in Mexico Metropolis in particular person leaping.

Jennifer Leahy, of Douglas Elliman, had the itemizing. Leahy advised the Journal the island had obtained bids from each end-users and builders.