This once-in-a-lifetime listing has already gone viral. NPR reported this weekend on the impending auction of Plum Island, an idyllic and Hamptons-adjacent property featuring about four miles of sandy beaches and its own 19th century lighthouse. There is, of course, a catch. Or rather, a catchable contagion. Since 1955, Plum Island has been home to a research facility studying foot-and-mouth disease. The disease, while devastating to hoofed animals, is harmless to humans. An abundance of caution, and an eye towards the multibillion-dollar cattle industry, led the U.S. government to quarantine foot-and-mouth to Plum Island more that half a century ago. Advancements in technology have made this type of natural defense outdated and the research program will be heading to a mainland facility, at which point Plum Island will receive an auction date. “Devastating disease” may seem like a high barrier to entry for a potential investor, but Jonathan Miller, president and CEO of the appraisal firm Miller Samuel and a New York real estate expert, told NPR that the island’s history may not be a factor in the purchase. "So there's many examples of quote unquote 'stigmatized properties' that — who would think anyone would live in these?" Miller says. "And then you gut it, strip it, remediate, create a high-end real estate product that breaks records in the neighborhood."
Given its location, Miller believes Plum Island could be worth a billion dollars. A small price to pay for the Hamptons’ newest neighborhood. [NPR]