A Private Island in South Carolina Asks $29 Million
November 18, 2014 - South Carolina
Long Island, an undeveloped, roughly 4,600-acre private island in South Carolina, is on the market for roughly $29 million.
The price does include a big contingency, said co-listing agent Sink Kimmel of the Nichols Company, a realty based in Charlotte, North Carolina.
The list price accounts for one of the current owners, James Triplett, potentially building a roughly 75-foot-long bridge to another island that would link Long Island to Charleston by land. Long Island is currently reachable only by boat.
Mr. Triplett has spent his career running companies specialized in structural engineering for transportation and would build the bridge if it is possible, Mr. Kimmel said.
The sellers would consider many scenarios if the bridge didn’t work out, said co-listing agent John Nichols, including refunding roughly $4 to $5 million of the purchase price.
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, Mr. Kimmel said.
The partners’ plan to build an eco-conscious corporate retreat was scuttled by the recession, and they are selling to invest in different projects, Mr. Kimmel said.
The current owners put 4.8 acres under an easement with the South Carolina Battleground Trust.
Within the easement area is Star Fort, an earthen cannon fortification which garrisoned the Massachusetts 55th Volunteer Infantry, an all-black Civil War regiment.
There are other Civil War relics on the island, which lies just 11 miles from downtown Charleston, Mr. Kimmel said.
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