Inisfada listed on the market for $110 million

Inisfada listed on the market for $110 million
The land off of Searingtown Road formerly home to the Jesuit Inisfada is for sale. (Photo courtesy of Daniel Gale Sotheby’s International Realty)

The 30-acre location formerly home to the St. Ignatius Jesuit retreat house, or Inisfada, is back on the market for $110 million.

Manhasset Bay Group currently owns the space in the Village of North Hills, which it purchased in 2013 for $36.5 million. The developer has an application on file with the village to create a subdivision with 46 single-family homes. Manhasset Bay Group has not yet moved to gain final approval, North Hills Mayor Marvin Natiss said.

Those plans would be passed on to the new owner, allowing the project to be completed if the village approves it, Natiss said. Should the applicant push it, the plans would likely be approved, he said.

“Once they own it, they’re free to do whatever they see fit,” said listing agent Jason Friedman with Daniel Gale Sotheby’s International Realty. “They could go in a different direction with it. They could go in the direction that it’s going in. If some very wealthy person wanted to, they could buy it and build one house.”

The property on Searingtown Road went on the market April 2 and there is already interest from domestic and international parties, Friedman said.

Plans for the development of the property into a gated community date to 2014, when Manhasset Bay Group submitted plans to the Village of North Hills to create the “Manhasset Crest” subdivision.

After purchasing the property, the group demolished the run-down retreat house constructed between 1916 and 1920 despite protests from local civic and historical groups.

The last communication between the owner and the village took place a couple of months ago, the mayor said.

Based on the previously submitted application, private properties on the site would range in size from about one-half to one acre and some would have private pools, the listing says. How much they would list for all depends on how much goes into building them, Friedman said.

“It’s convenient, it’s safe, it’s really one of the best locations I’ve ever seen or seen at least in the last decade or so,” he said.

The site falls within the Manhasset school district and is on the Port Washington Long Island Rail Road line.

As for the $73.5 million jump in the price from what Manhasset Bay Group paid, Friedman said it was partly due to the application in progress with the village and partly to reflect increases in Manhasset’s real estate market.

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