A private island of about 25 acres is now up for sale in Georgetown, Maine for $3.85 million, providing an opportunity to purchase a rare luxury real estate product that usually doesn’t come around even in such a state famous for its scenic coastline and impressive waterfront properties.1 This island called Long Island comes complete with a luxurious house dating back to 1862 with a floor area of about 3,346 square feet. The house comes with five bedrooms along with an exquisite ocean view, all set against a backdrop of total isolation.
Apart from appealing to the romanticism of owning a private island, other notable amenities include a granite pier, artist’s studio, boathouse, old stone work, meadows, woodlands, perennial gardens, orchards, among other things that make this island not just a lifestyle property but also a heritage one.1 Adding to its charm and prestige is the fact that it had been home to the artist Stephen Etnier.
Why This Property Stands Out in Maine’s Luxury Real Estate Market
Real estate for private islands is very niche within the luxury market. Potential owners are buying not only an opportunity to have an amazing vacation place but also logistics and maintenance responsibilities as well as access limitations and requirements of long-term stewardship. This is exactly what makes such properties as Long Island special. It attracts a specific yet reliable customer base that is in pursuit of privacy, control, and exclusivity, three elements that work as major forces in luxury real estate.
That being said, Long Island seems to be a winner. The state of Maine is known for its long tradition of having buyers who love legacy and historical heritage of houses, as well as low density. Having a piece of estate on a protected island that is still easily accessible from the mainland might be a great asset that could prove to be highly desirable due to the combination of exclusivity and accessibility. Affluent clients usually need privacy but also access.
Furthermore, the historic main house on Long Island adds another dimension to the property’s appeal. Nowadays, many potential buyers seek to buy real estate that carries history along with it because it gives it unique qualities that are
What Buyers Will Watch as the Sale Moves Forward
It depends on whether the right buyer will be convinced of its purposefulness as a retreat, a place for the whole family, or an inheritance. The point is that island real estate properties usually have much more value due to fit, opportunity, and emotion than due to comparable sales. This potential buyer attracted by opportunities of boating, natural resources, history, and long-term living can consider such pricing justified.
But not everything is easy here. There are several additional issues related to the specifics of property. These can range from increased operational complexity to unique aspects of weather conditions. Such difficulties make the pool of buyers smaller, but also preserve uniqueness in a competitive luxury market where many houses could easily attract attention. Therefore, the sale of Long Island represents the example when the unique remains preferable to the convenient.
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