Wednesday, July 11, 2012

Buy an island for S$6.4m

Red Rock Island, a 2.4ha mass of rock located at the northern part of San Francisco Bay, is up for sale at a reduced price of US$5 million (S$6.4 million).

The island offers a secluded beach, fishing activity and a view of the San Francisco skyline. According to realtor Steven Higbee, the property is being sold at a price much lower than its previous selling price of US$22 million (S$27.87 million) earlier this year.

For several years, Red Rock Island has been on and off the market. Thus, Higbee told its owner that the best way to dispose of the property is by “whittling away at the price”.

Higbee noted that the new owner will enjoy unique opportunities in the island as it is secluded and had no tourists swarming about. Red Rock sits about 9.6km north of San Francisco and is accessible only by boat or helicopter.

“You could go out there and have wild parties or retreat from the wild parties,” he said.

Selim Woodworth made Red Rock his home, and lived there from 1851 to 1856. According to Higbee, Mack Durning, a retired businessman who bought the island from David Glickman in the 1970s, is the current owner of the property.

View the original article here

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