Property Hits Market Priced at $118 Million

---

A rare 314-acre property has hit the market on Martha's Vineyard, priced at $118 million. 

The property includes 1,200 feet of beachfront and freshwater ponds, including the 35-acre Homer's Pond, according to the Wall Street Journal.

The price would be a record for the Vineyard, but it's not even close to the highest priced property in the U.S. That honor would go to Copper Beech Farm, a Victorian estate in Connecticut, which is priced at $190 million.  

The Martha's Vineyard property features a 5,600-square-foot main house, built in 1985, with four bedrooms, a 12,000-bottle wine cellar and a saltwater swimming pool. It also includes a cozy 700-square-foot, one-bedroom guesthouse.

But it's the open undeveloped spaces that make the property special.

"Homer's Pond is unique because of the special land, which is huge," Charles Carlson of South Light Property, which is marketing the property, told WPC. "The seclusion of the property is key, achieving complete privacy for a buyer."

Of the 314 acres, 173 acres are developable and 141 acres are covered by a conservation easement. Individual portions of the property are for sale, including a 100-acre parcel for $31 million.

"The developable land can support up to three family compounds separate from the existing house compound," Mr. Carlson said.

The owner, Gerry DeBlois, started assembling the property in 1981 after selling his hospital management company. He spends half the year on the island, known for hosting world-wide elites and super-rich vacationers, but is ready to sell because he's getting older, the WSJ reports. 

"It's a special, private, peaceful place I've enjoyed for 30 years," Mr. DeBlois said. 

He attempted to sell 266 acres of the property last summer for $92 million (now available for $74 million). He has now added the main house and more acreage to the deal and set up his own marketing team to sell the property. 
 
So far, the highest recorded property sale for the Vineyard is the $64 million sale of the 215-acre Herring Creek Farm in 2001, according to the WSJ. Earlier this year Caroline Kennedy listed two parcels of land on Martha's Vineyard, part of the Kennedy family estate, for $45 million.