A waterfront home on Shelter Island has sold on Tuesday in what is believed to be the biggest deal so far this year on the small island between the Hamptons and the North Fork.
The Ram Island home overlooking Gardiner’s Bay sold for $9.7 million.Andrea Ackerman of Brown Harris Stevens and Melina Wein of M Wein Realty, an independent Shelter Island real estate agency, had the co-exclusive for 149 North Ram Island Drive. The last asking price was $10.75 million.
“Shelter Island is the new frontier of the Hamptons. With so many new great restaurants and fabulous hotels, it’s the go-to destination,” says Ackerman.
“This storybook property offers spectacular views over Gardner’s Bay to the North Fork and Connecticut, with nothing like it available anywhere on the South Fork. Custom designed and built, with extraordinary gardens, infinity pool, and glorious sunsets, the buyers recognized how special this property is.”
Dana Trotter of Sotheby’s International Realty repped the buyer, who was not immediately identified.
The sale took a while to close. The property had been on the market since August 6, 2021, and the buyers entered into a contract in early March of 2022.
The six-bedroom, seven-bath home sits on 2.1 acres with 200 bulkheaded feet on the bay. The infinity pool’s placement makes it seem like it is pouring into the bay. There is an elevated sun deck just above the water’s edge, perfect for lounging or al fresco dining.
The home was designed by noted architect Dan Maselli and renowned landscape architect Edmund Hollander designed the gardens.
Standout features in the home include the double-height entry into the living room where there are panoramic views of Gardiner’s Bay out to Connecticut. Also waterside is the formal dining room. Both have wood-burning fireplaces, while the paneled library offers a gas fireplace.
The state-of-the-art kitchen provides high-end appliances and is connected to a butler’s pantry, washer-dryer and half bath.
Meanwhile, the second-floor primary bedroom overlooks the water. Two en suite guest rooms have the same views, one with a terrace.
The property also includes a guest house with a generously-sized bedroom suite, a full bathroom, powder room, outdoor shower, studio and a two-car garage.
The sale came with plans for a tennis court.
Last year, the biggest sale was a 3.25-acre estate on Coecles Harbor. The home at 10 Lari Lane sold for $11.575 million in September of 2021.
Sales throughout the East End have slowed since the heights of the COVID-19 pandemic.
Shelter Island sales have cooled quite a bit from last year. The Community Preservation Fund, which collects a 2% tax on most real estate transactions, took in revenues that show Shelter Island received a whopping 40.6% less during the first half of 2022 than it did during the same time frame of 2021. In the first six months this year, the town collected only $1.48 million in revenues, as compared to $2.49 million for the same period last year.