Rat Island to hit the auction block

September 19, 2011 11:04AM

A 2.5-acre rocky islet just off City Island in the Bronx named Rat Island will hit the auction block Oct. 2, Rutenberg Realty’s Malcolm Carter reported on his eponymous blog.

The island, which offers views of Long Island Sound and nearby Hart Island, is owned by Red Brennan, a marine contractor who salvaged barges and stored equipment there. Brennan tried unsuccessfully to sell the island in 2009 for $300,000. The property has been on the market for $250,000, he said, and was assessed by the city to be worth $265,000. Bids will be subject to Brennan’s approval.

Brennan acquired the island by foreclosing on a tax lien that he had purchased in 1972, he told Carter, and has no regrets.
“I’ve made a lot of money with it,” he said, referring to the salvage operations.

Brennan said there has been some interest by prospective buyers in building a green house on the island. “Everybody’s got a little twitch,” he said.
[Malcolm Carter]