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San Francisco Bay island for sale at discount
Source: Agencies |
July 10, 2012, Tuesday
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Print Edition
Print Edition
AN island offering a secluded beach, promises of great fishing and stunning views of the San Francisco skyline is up for sale - and at a discounted price.
Red Rock Island, a 2.4-hectare mass of rock tucked away in a northern part of San Francisco Bay, is now being offered for just under US$5 million, Realtor Steven Higbee said. The property earlier this year was listed for US$22 million.
Mineral rights for the property, which Higbee says contains manganese in its rocky outcroppings, are negotiable.
The undeveloped island has been on and off the market for years. Higbee said he advised the owner that the best way to move it was by "whittling away at the price."
Accessible only by boat or helicopter, and with no crowds of tourists swarming about like the better-known Alcatraz Island, the island offers what may be the ultimate in a secluded getaway.
Its current owner, retired businessman Mack Durning, took possession of the property from its previous owner, David Glickman, sometime in the 1970s, according to Higbee. Glickman had bought the property in the early 1960s, asking US$10 million for the island and another US$10 million for mineral rights.
Glickman never sold the island, but ended up turning it over to Durning in exchange for some debts, Higbee said.
Red Rock Island, a 2.4-hectare mass of rock tucked away in a northern part of San Francisco Bay, is now being offered for just under US$5 million, Realtor Steven Higbee said. The property earlier this year was listed for US$22 million.
Mineral rights for the property, which Higbee says contains manganese in its rocky outcroppings, are negotiable.
The undeveloped island has been on and off the market for years. Higbee said he advised the owner that the best way to move it was by "whittling away at the price."
Accessible only by boat or helicopter, and with no crowds of tourists swarming about like the better-known Alcatraz Island, the island offers what may be the ultimate in a secluded getaway.
Its current owner, retired businessman Mack Durning, took possession of the property from its previous owner, David Glickman, sometime in the 1970s, according to Higbee. Glickman had bought the property in the early 1960s, asking US$10 million for the island and another US$10 million for mineral rights.
Glickman never sold the island, but ended up turning it over to Durning in exchange for some debts, Higbee said.
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