Shelter Island Waterfront Listing Aims to Reach $20M Plateau

An East End home coming to market for the first time would be the first on Shelter Island to fetch $20 million, should the sellers get their asking price.

Congdon’s Point at 34a North Cartwright Road was built in 2014 by Rich Kissane. Its price is more about waterfront location and views than about land (2.1 acres) or size (the main home is 4,500 square feet and has five bedrooms and five bathrooms).

The listing is being held by Penelope Moore of Saunders & Associates.

The property is a peninsula on Coecles Harbor and includes more than 400 feet of shoreline. A walkway to the beach leads to a waterside firepit with lounge seating, a kayak rack and a two-level, 100-foot dock that can accommodate up to four 40-foot boats.

The house’s living room has 24-foot ceilings and 10-foot windows with views of the water. The primary suite on the first floor has 180-degree views of the harbor, as well as an outdoor deck. The second floor has more bedrooms, including a bunk room.

The exterior includes a screen porch, pool and spa, along with a curated landscape and a stone terrace overlooking the water. A boathouse comes with an entertainment center, library and guest suites, and sits above a heated underground garage accessible by elevator.

When reached by The Real Deal, Moore said an offer was made on the home prior to the pandemic in the range of $20 million. It is unclear what became of it, but the current price is well beyond what anyone has paid for a home on Shelter Island, which is only reachable by boat and has limited dining options.

This summer, the seller of the Snyder House at 2 Charlie’s Lane on West Neck Harbor sold for $13 million. That was reportedly the most expensive sale in Shelter Island’s history, breaking a record of $12.4 million that stood for 15 years.

Other homes on Shelter Island have been listed for aspirational prices, only to meet the reality of the market. In 2016, an estate at 25 Nostrand Parkway was offered at $32 million, then repriced at $25 million a year later. The listing was pulled in July 2018 and hasn’t popped back up, according to Realtor.com.