Home News On Connecticut’s Coastline, a 52-Acre Stretch of Land Asks $85 Million

On Connecticut’s Coastline, a 52-Acre Stretch of Land Asks $85 Million

by admin
0 comment

Sign up and get first to know about the biggest and best luxury home sales and listings Great Email Alerts for Our Condos..

About 52 acres of waterfront land adjacent to Connecticut’s Great Island is on the market for $ 85 million, according to Leslie McEllease of Sotheby’s International Realty, one of the listed agents.

The list of properties known as Ziegler Farm comes shortly after the deal to sell the Great Island For about $ 100 million in the town of Darien, Connecticut, a wealthy suburb of New York City. The approximately 60 acres of real estate are under contract, but the contract has not yet been concluded.

The two adjacent plots of Long Island Sound are part of the largest undeveloped land remaining in the region, McElwreath said. Both were once owned by baking powder entrepreneur William Ziegler. William Ziegler purchased the Great Island as a summer villa around 1900. Currently, the parcels are owned by separate branches of the Ziegler family, McElleath said.

Ziegler Farm is located in Long Island Sound. It is adjacent to the Great Island, which has a contract to sell for about $ 100 million.


Photo:

Daniel Milstein / Sotheby’s International Realty

The only building at Ziegler Farm is an old barn, but there are approved plans to build up to 14 homes. In addition to water, electricity and sewerage, two paved roads are already in place.

McElwreath said the Ziegler Farm can be purchased by developers who want to build small plots or wealthy individuals planning family estates.

“Since Covid, there has been a great deal of interest in setting up family compounds,” she said. “People want big properties for themselves, but they also want space for their children and grandchildren.”

McElwreath said Ziegler’s descendants are selling because “life is moving in different directions.”

The property has two paved roads.


Photo:

Daniel Milstein / Sotheby’s International Realty

“At some point, I’m sure people thought they would build a home for themselves or for their children in this property,” she said.

The Great Island part for sale in the town includes the original Ziegler family and a stone house from the early 1900s. The property was first put on the market for $ 175 million in 2016 and was on the market for years when the town signed a contract to buy it. When the deal was signed, it was demanding $ 100 million.

Second quarter report by a brokerage firm

Douglas Elliman

Luxury goods sales in Fairfield County, where Darien is located, showed a decrease of about 20% from the same period last year when the region was boosted by a pandemic. Average prices for luxury homes have fallen 2.9%.

McElwreath has posted a property on Joseph Barbieri of Sotheby’s International Realty.

Write in Catherine Clark [email protected]

Copyright © 2022 DowJones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

You may also like