A waterfront Victorian estate in Shelter Island, N.Y., will list for $32 million, a likely record for the quiet vacation town.
If the property gets close to asking price, it will dwarf the current sales record. The most expensive single-family residential sale on the island was a roughly 5,100-square-foot home for $9.5 million in 2014, according to the Shelter Island assessor’s office.
The price “is unheard of for Shelter Island,” said Beate Moore of Sotheby’s International Realty. “But we’re not worried about it, because it’s a world-class property.”
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The owner, Dick Tarlow, 75, is a retired advertising-agency executive known for his work for clients such as Revlon and Ralph Lauren.
The roughly 4.8-acre property includes a 7,000-square-foot, Queen Anne Victorian-style home built around 1890. The seven-bedroom, six-bathroom home has nine original, wood-burning fireplaces and wraparound porches. The property also has a tennis court, basketball court, pool, an 80-foot dock and boat house. A nest of osprey have made their home near his boathouse, overlooking the Peconic Bay.
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Mr. Tarlow bought the home in 1983 with his then-wife, the late ad executive Sandy Carlson Tarlow, for $640,000, which he says was a record at the time. He undertook a major renovation in 2007 to modernize the home and to convert a windmill on the property into a lofted guest house. Last year he replaced about 80 windows on the property.
Mr. Tarlow is selling the property to split the proceeds among his three children. He and his wife, Kristin Kehrberg, will move to a contemporary home he owns next door. He says he’ll miss the tennis court.