You can now buy your very own private island just 30 minutes from Manhattan — if you have $4.9 million to burn.
Located in the upscale New Rochelle community known as Premium Point, the Mediterranean-style waterfront estate on Oak Island spans a colossal 7,800 square feet on nearly three-quarters of an acre of property.
Modeled after an Italian villa, it boasts six bedrooms, six bathrooms and a pool, as well as access to a private beach and boathouse, not to mention 24/7 security.
For easy accessibility, the island is connected to the mainland by a 50-foot-long concrete bridge, erected when the house was constructed in 1917.
The current owners have updated the residence to include a two-story addition complete with wine room and terrace with a built-in fireplace overlooking the water.
The estate offers views of Long Island Sound and Premium Mill Pond and is one of some 60 islands that dot the shores of Westchester County.
“You’re on the cusp of New Rochelle, which is bustling, but also the quaint village of Larchmont,” Margaret Grasso of Berkshire Hathaway HomeServices told Realtor.com. “You have the best of both worlds.”
The exclusive gated yachting community of Premium Point, founded in 1882, hearkens back to the Gilded Age. Back then, New Rochelle was known as “Queen City of the Sound” and a popular summer destination for the wealthy.
The home at 20 Premium Point is also a relative bargain. In 2010, an estate in the community designed by Stanford White, with landscaping by Fredrick Olmstead, hit the market for $12 million. Known as “All Views,” it was built in 1890 by banker and avid yachtsman C. Oliver Iselin.
Other notable Premium Point residents over the years have included artist Norman Rockwell, J.P. Morgan, Revlon founder Charles Revson, LVMH chairman Bernard Arnault, Nigerian billionaire and diplomat Antonio Deinde Fernandez and former Yankees manager Joe Torre.
The community has had its share of scandal. In 2005, several owners reportedly sued the community’s board over maintenance fees, which at the time cost as much as $30,000, alleging the board made “secret agreements” with select owners.
It’s also not the first private island outside of NYC to hit the market in recent years. Willow Island in Putnam Lake, about 60 miles north of Manhattan, was put up for sale for $850,000 in 2019. That same year, Columbia Island, located just off of New Rochelle in Westchester, was available to purchase for $13 million, and the Frank Lloyd Wright-designed Massaro House and 10-acre Petre Island near Lake Mahopac in Carmel, NY, was listed for $12.9 million.
