Shelter Island listing shoots for the stars with $13M ask

An estate on Shelter Island has hit the market with a lofty asking price more commonly seen in the affluent Hampton enclaves to its south. 

The owner of 8 and 10 Cobbetts Lane wants $13.3 million for the 4-acre property near Dering Harbor on the island’s north side, according to a listing with Saunders & Associates.

The listing includes two evenly divided parcels surrounded by hundreds of acres of protected land. The two-acre lot at 8 Cobbetts Lane, also available on its own for $9.8 million, comes with a 6,000-square-foot, four-bedroom farmhouse, a timber barn and an outdoor pool. The unbuilt lot next door at 10 Cobbetts Lane has permits for a guest house but could host an equestrian facility or something else, like tennis courts, according to the listing. 

Known as the Shelter Island Farm, the property also has wildflower gardens, a lavender field and an apple orchard.

Shelter Island sits between the Hamptons and North Fork, but is only accessible by boat, limiting the pool of potential buyers. A home is worth what someone is willing to pay, but other recent listings on the island suggest that an eight-figure sale may take some time. 

One family tried to privately sell a three-lot property on Charlie’s Lane for $22.5 million, but pulled two of the lots off the market. They relisted the most valuable one, 2 Charlie’s Lane, by itself this fall for $14 million. The 6,000-square-foot home with six bedrooms, a 74-foot pool, a large dock and more than three bayfront acres is still available, according to the listing.

In 2021, there was one eight-figure sale, the purchase of a 16,000-square-foot waterfront estate at 10 Lari Lane for $11.8 million. Another home on Cobbetts Lane — roughly half the size of this latest listing — sold in one of the island’s largest deals that year — $4 million, according to Behind the Hedges.