DARIEN — Good Island is officially beneath agreement with the town, according to officials with immediate understanding of the obtain.
The city has been in negotiations with the sellers of the $100 million assets, a 60-acre island off the coast of Darien, for more than a month now.
Originally owned by William Ziegler, a baking soda magnate who ordered the property in 1902 as a sprawling summer vacation resort, Ziegler’s descendants set it on the market place in 2016.
The family’s original asking value, $175 million, was later on knocked down to $100 million.
The Board of Selectmen voted unanimously to authorize Darien to enter in negotiations for the property in April. The buy will be discussed even more for the duration of a June 6 assembly of the Board of Selectmen, officers reported.
On Tuesday, Board of Selectmen member Marcy Minnick shared a put up from neighborhood Realtor Jennifer Leahy asserting the invest in.
“Exciting information for our town,” Minnick said in her caption, which was posted to a local, non-public politics web site.
Other city officials have confirmed this most recent development in the acquisition of the island.
According to the serious estate brokerage company Redfin.com, below agreement indicates that a buyer has created an give on the house and the vendor has recognized but the sale is not final.
“While the assets is however below agreement, all contingencies need to be fulfilled just before the sale is finalized. That could necessarily mean the consumer have to secure funding, the household inspection still desires to be done to ensure the house is absolutely free of critical defects, or other conditions that however need to have to be fulfilled in purchase for the sale to be finalized,” Redfin writes. “Real estate contracts outline numerous disorders that should be fulfilled by both equally the purchaser and vendor. If possibly social gathering fails to meet one of these problems, the contract is breached and one celebration may back out of the sale.”