Long Island, an undeveloped, roughly 4,600-acre private island in South Carolina, has just hit the market, priced at $29 million. Roughly 4,600-acre private island is currently reachable only by boat, but one of the current owners, James Triplett is looking into the possibility of building a 75-foot bridge from Long Island to nearby Oak Island. That bridge connection is estimated to cost $4 million or $5 million, and the sellers would refund that amount if the bridge doesn’t pan out.
The price does include a big contingency, said co-listing agent Sink Kimmel of the Nichols Company, a realty based in Charlotte, N.C.
A consortium of buyers that didn’t include Mr. Triplett bought the island for $7.5 million in 2005, according to public records. In 2007, Mr. Triplett bought into the partnership, but their plan to build an eco-conscious corporate retreat was scuttled by the recession, and they are selling to invest in different projects.
Long Island is made up of a series of smaller islands, and the sellers are willing to divvy up the property for buyers who aren’t interested in purchasing the entire 4,600 acres.