| Issue #1 - March 30, 2007 |
Real Estates by Diane Strecker
Just when we think that real estate news on the East End
can’t get any more exciting, another magnificent estate enters
the market. This week it is the Shorewood Manor on Shelter Island that
has listed for $33 million with Prudential Douglas Elliman in Sag Harbor.
Properties like this are rare and it is expected to sell quickly. This
beautiful Queen Anne Victorian on Wards Point, overlooking both the
Peconic Bay and the Shelter Island Sound, is said to be one of the more
sought after properties entering the market in recent years. It is possible
we may see one of those bidding wars that were so commonplace not too
long ago. This estate has East End realtors buzzing with the news of
the recent exchange that took place quietly with a buyer for substantially
less than what it has the potential to sell for publicly.
This 23-room mansion was built in 1873 on 8 acres and 1,000 feet of
shoreline on what is considered by many to be some of the most pristine
soil on the East End. It was purchased by a local real estate investor
and “Islander” Chris Knight. Mr. Knight bought the historic
site just weeks ago from HOC Investments L.L.C., with the intent of
turning it over. According to the listing broker Harry DiOrio, the property
is located in one of the most prime locations on Shelter Island. He
told me that many estates are about the house, but this one he says,
is about the property. “It has one of the most stunning water
views on all of the East End.” DiOrio, a local who grew up on
the island, says he has stood on just about every waterfront location
on Shelter Island and Shorewood Manor is by far the superior locale.
Not to mention its historical value. Mr. DiOrio also added that since
the property publicly listed with him just days ago, his phone has not
stopped ringing. He said there is an incredible level of excitement
and interest.
The main house is said to need some TLC, as it has fallen to disrepair
over the years and it is the hope of the broker and seller that the
property be restored. The mansion was originally built by Anternas Ward,
a New York advertising tycoon and philanthropist. The family history
reaches as far back as George Washington. Major Anternas Ward served
the first president as a delegate in the Congressional Congress. The
estate was also owned by Governor Hugh Carey who bought the manor in
1997.
It also includes a shoreline honeymoon cottage and a turn of the century
water tower. The manor house has 13 bedrooms and multiple stone fireplaces
throughout. The property once functioned as a working farm on more than
200 acres. It is also one of the most private locations on the island.
The mansion was built on a high plateau, but the lawns sweep down to
shore-level, making it quite unique. The property has both sunrise and
sunset views.
Shelter Island is known for its many Queen Anne Victorians, a style
of architecture that took hold there at the turn of the century. Shelter
Island Heights is comprised of one stately historic manor home after
another, each one unique to itself. The elevation, hence “The
Heights,” is the closest we get to mountains on the East End,
with homes built into the landscape atop of high, steep bluffs. What
draws most to Shelter Island is that it consists of 8,000 acres of preserved
land, almost one-third the island’s entire make up. Hiking the
Mashomack preserve is like stepping into the 1800’s. The island
is much like it was a hundred years ago.
The only other property currently in that price range on the island
is, Bumble Bee Manor, which listed last year at $37 million. This estate
is a state of the art compound with all the latest innovations, as well
as a theatre and an infinity edged pool. Also for sale on Shelter Island
is the Rams Head Inn on Little Ram Island listed at $17.5 million, The
Chequit, located in the Heights and an 80-slip marina on Coceles Harbor
listed at $16 million. Shelter Island homeowners seem to be following
suit similar to other areas across the East End and are cashing in on
the inflated equity that has swelled in their properties in such as
short period of time.
Previous owners on the island have included Billy Joel, who owned a
waterfront estate and a deep-water dock for his boats that he sold in
2003. Mr. Joel was said to be looking at the $80 million dollar North
Haven listing just across the water a few weeks ago. Maybe a renovation
project may strike his fancy. Either way, whomever the lucky buyer is,
they will not just be purchasing tranquility but a piece of Long Island
history as well.
You can reach Diane at eastendrealest@yahoo.com.
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