New to the market, in general: this 25 acre compound on Shelter Island's Cocles Harbor. Never offered before, the land has been owned by the Passionist order of priests since 1911, and has served as St. Gabriel's Spiritual Center for Youth since the 1960s. According to Real LI, the Passionists 'decided to leave the property since they no longer have the personnel to operate the center and need to sell the land to help pay for health care for their aging members'. Offered for $19.9 million, the property comes with 1,500 feet of beach frontage and 10 buildings, including one 29-room guest house built in 2000. If sold for its asking price, the Passionists should have that health care thing on lock.
· Listing: 24.81-Acre Compound on Cocles Harbor [BHS]
· Shelter Island Compound on the Market for the First Time [Real LI]