A private island in San Francisco Bay may not have water or electricity, but that's not stopping its sale price from reaching $25 million.
Red Rock Island is the only private island in the region and was put up for sale last November for US$25 million (or over $33 million Canadian). New York Post.
The six-acre island is accessible only by boat or helicopter. Steep cliffs, rocky shores, sparse vegetation: the island has little to offer, but its seller, Brock Turning, believes it's a trophy property and should command a high price.
“We think it's like owning a Leonardo da Vinci or a Rothko. It's something someone wants in their portfolio, like a piece of art or sculpture,” said broker Chris Lim. The New York TimesAccording to Mail.
According to Chris Grolow, CEO of the “Private Island Listing” site, for nearly twenty years, Red Rock Island has been put on the market repeatedly. The asking price for the island ranges from US$5 million to US$25 million.
“We call them our decorative islands. They look great and get a lot of attention, but they don't sell,” Grolov said.
