Record-Busting Listing On Shelter Island

Those looking for a pristine home by the water on Shelter Island have a new place to explore, but they'd better have big bucks behind them.A waterfront home now listed for sale has the distinction of being not only the highest priced residence on the island's market today, but the highest priced residential property in its history.

Listed with Sotheby's International Realty for $32 million, 25 Nostrand Parkway in Shelter Island Heights is a three-story private estate resting on approximately 4.8 acres. At 7,000 square feet, the main house includes seven bedrooms, seven bathrooms, eight fireplaces and views of Peconic Bay. The homeowner can enjoy the view from the outdoor pool, tennis court and basketball court, or get a solid workout in the indoor fitness room and then relax in the hot tub. At the edge of the backyard is a long dock for boating and a small resting area with two beds on which to relax. Visitors can stay in the multi-level windmill guesthouse, complete with a kitchen, living/dining area, bathroom, and outdoor deck overlooking the water.

It's an absolutely beautiful property," said Beate Moore, associate broker at Sotheby's. "The open water views are wonderful. You can hear the waves crash while you're sleeping."

Listing prices on Shelter Island typically range from about $500,000 to $11 million.

"Historically, that stretch of road on Nostrand Parkway has always been an affluent neighborhood," Shelter Island Town Assessor Quinn Karpeh said this week. "Wealthy New Yorkers in the 1920s and '30s would come out here to spend their summers."

Mr. Karpeh said most other houses in that area are still used as second homes during the summer, especially the larger ones. While he admits the price is "aggressive," he said it's not out of character for the neighborhood.

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