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Shelter Island's Paard Hill Farms Hits The Market, Asks $7.95M

If only Matt Lauer could have waited a couple of months for this listing to hit the market, perhaps all the drama surrounding his proposed horse farm in Bridgehampton wouldn't have materialized. Sure, getting to Paard Hill Farms would require a little drive and ferry ride to Shelter Island, but that's a small price to pay for keeping the neighbors happy.

However, since the Today Show host's plans are all but certain at this point, the owners of this particular equestrian destination will need to find another horse-loving suitor.

Set on a whopping 36 acres overlooking Gardiners Bay and Coecles Harbor, Paard Hill has everything Wilbur and Mr. Ed could possibly want. State-of-the-art barn with 23 windowed stalls? Check. Indoor heated riding arena with water views? Check. An outdoor arena with gazebo? Check. The place even boasts a four-bedroom farmhouse with water views that dates back to 1886.

Before you get any smart ideas, you should probably know that 29 of the property's 36 acres have been donated to the Peconic Land Trust. These constitute the farm's pasture land and mowed riding trails. So...no subdivision for you!

· Listing: 25 Ram Island Road [Corcoran]
· Paard Hill Farms [Official Site]