Listing of the Day
Location: Block Island, Rhode Island
Price: $5.5 million
If you have ever dreamed of creating your own family compound on the edge of the ocean, this collection of land and property, on the relaxed New England community of Block Island—just off the coast of Rhode Island and a short flight from New York City—is ideal.
Sundown Compound, as it’s called, offers nearly 12-and-a-half waterside acres including three properties, an unfinished barn and separate one-bedroom studio on two lots, plus a third lot with land approved for a five-bedroom house.
LandVest, the real estate brokerage, won’t name names but says a "Hollywood legend" has already expressed interest.
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Stats
The full compound includes the main residence, a 4,865-square-foot home with three bedrooms and three-and-a-half bathrooms. There is a separate two-bedroom, one-bathroom guest house of 691 square feet and three-bedroom farmhouse that’s 1,703 square feet. Adjacent to it is a detached Gambrel-style two-story barn of 1,192 square feet, which could be converted to residential use; the studio unit is 548 square feet above a detached garage with a full bathroom.
The 4.37 acre lot with the main house is also available for sale individually, for $3.595 million.
Talking point
The existing owners were regular Block Island vacationers who decided to become residents. Claire Brunick, of LandVest, said they have deep ties to the local community and once owned the local newspaper. They are not leaving the island, just downsizing to a smaller property.
Though the guest and farm houses could be used by visiting friends or relatives, the owners have been renting them out. The guest house, which has two ground-level decks and a roof deck is rented out annually, for $700 a month, considered below market rate. The current lease extends to November 2017.
The farmhouse, which dates from the 1880s—and which the existing owners have re-shingled twice, added upper and lower decks, and renovated the kitchen—rents for up to $2,500 a week during the 10-week high season. It is currently rented out from July 1 to Labor Day, with a gross rent of about $24,000.
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Amenities
"When you walk through the doors at Sundown, you feel right at home," Ms. Brunick said of the main residence. "There is an ease in the flow from one sun-filled room to the next, each offering a number of large windows that beg you to grab a seat and absorb the coastal views."
Rooms include a wood-paneled library with fireplace, a workshop, separate office and a master suite with walk-in closet, two pantries and multiple ocean-view decks and patios. There is also a one-car garage.
Neighborhood notes
Block Island is known for its miles of sandy beaches, clear waters and dramatic bluffs. "The nature conservancy has designated it one of the 12 last great places in the Western Hemisphere," Ms. Brunick said. "It is truly a one-of-a-kind island experience a short flight from NYC, Boston, or Providence."
Cooneymus Beach and Southwest Point are the closest attractions, the town center on the harbor, a short drive away, has restaurants, bars and shops.
Agent: Slater Anderson, Landvest
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