You know what they always say: if you have to ask how much a private island costs, then you can't afford a private island. Nevertheless, the owners of just such a private island located on Long Island Sound in Connecticut have given it a significant price slash of $75 million, according to a report in the Wall Street Journal.
That's compared to its original listed price of $175 million when it was listed back in September of 2016 (it was most recently listed in 2019 with a price of $120 million). Known simply as Great Island, it spreads across about 60 acres of dry land, and even though the new listing has what Douglas Elliman listing agent Jennifer Leahy calls a "very realistic" price, she still says that this is a listing for a very exclusive socioeconomic strata: "Although I'd love to say there are many buyers that can buy a $100 million property, there aren't. This is for the 1% of the 1%."
Great Island is located about 50 miles from New York City and includes several different structures on its 60 acres, like a recently renovated 19th century Colonial-style house, equestrian facilities, and more. Here's how it's described in its official listing:
"Welcome to Great Island, a remarkable private 60-acre island offering over a mile of shoreline on the Long Island Sound. Home to the same family for generations, this is the largest private island ever to be offered for sale on the East Coast. The centerpiece of the property is a circa 1905 13, 000sf manor, reminiscent of a romantic villa. A 3-bedroom stone house, 19th century Farmhouse, Seaside Bungalow & a charming Beach Cottage share the setting with a sandy beach & rare deep-water dock. The compound's world-class equestrian facility is equally impressive, & includes a beautiful 18-stall granite stable, indoor & outdoor rings, polo field, paddocks & riding trails. Exceptional on every level, there's no doubt that Great Island represents one of the nation's most extraordinary offerings."
Great Island is the property of the family of industrialist William Ziegler, and according to the WSJ story Ziegler's descendants are "ready to move on" from the expansive property despite their "deep ties" to the island. After taking some time to redraw some property lines and properly calibrate its asking price, they're now optimistic they can find someone to take the island and keep it maintained in a form somewhat equal with the way it's stood for many years.
You can take a look at Great Island in the video below from Houlihan Lawrence: