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Mystery Buyer Snaps Up Barren Island Near Iconic US Landmark for $25 Million - But Can't Build Anything On It

24 August, 2024 - 4:32AM
Mystery Buyer Snaps Up Barren Island Near Iconic US Landmark for $25 Million - But Can't Build Anything On It
Credit: pinimg.com

A small, uninhabited island south of the Richmond-San Rafael Bridge will soon have a new owner, according to multiple reports, but the price tag and buyer's identity have yet to be revealed. The island, known as Red Rock Island, is a six-acre patch of land located in the San Francisco Bay.

Red Rock Island, a lonely, six-acre patch of land accessible only by helicopter or boat, is home to seabirds and the odd tree. It lacks basic necessities such as electricity and running water, while gaining permission to build anything on the outcropping could prove difficult as it falls under the jurisdiction of three counties.

Red Rock’s future is now in the hands of an anonymous person who agreed to purchase it under a quiet deal with no signs of how they plan to use it. Chris Lim, the listing agent, declined to offer any details about the provisional new owner or the final sale price, citing a non-disclosure agreement.

“It will be a lengthy process with close of escrow not happening till next year,” Lim told the RealDeal website. He added that he gave “numerous” tours of Red Rock to interested parties including local, national and international potential buyers. Some of those toying with purchasing the island had “a vision for development” while others “recognised the unique opportunity to conserve the island in its current natural state”, Lim said.

The island has a colorful history, including tales of pirates burying gold. Previous owners include a 19th-century Naval commander, state senator and pioneer Selim E. Woodworth, who maintained a cabin and hunting preserve on the land.

Red Rock Island appears to only be a suitable home for birds due to no electricity or running water - and can only be accessed via helicopter or boat. The lack of necessities on the island are linked to the fact no owner has managed to build on it due to a bizarre reason.

Red Rock falls under jurisdiction of three counties. Each county has zoned it for different uses - residential, industrial and general. This means when owners attempt to navigate regulations of even one local body it could prove to be incredibly difficult - evident through its past.

Some past plans for the island included a casino, a 20-story hotel and even a yacht club - but none ever went through.

Red Rock’s current owner, Brock Durning, inherited the island from his real-estate investor father. Now living in Alaska, Durning said he was selling to help care for his ageing mother. His original $25 million asking price may have seemed steep for a barren rock in the San Francisco Bay, though the island boasts sweeping views of the city and neighbouring region.

The island was first used by Russian fur trappers in the 19th century and for mining manganese, a mineral which gives the land its reddish tint. The island has since changed hands often, with successive owners having grand visions that were never fulfilled.

Durning’s father Mack owned the island with David Glickman, a local attorney and gem dealer. Glickman, who bought the island for $49,500 in 1964, reportedly transferred ownership to the elder Durning after he moved to Asia.

Now the Bay Area's only privately-owned island, the 5.8-acre property is about to change hands for the first time in many years. The new owner will have their work cut out for them if they plan to utilize the land in a new way.

Despite the asking price being an eye-watering $25 million, the island boasts unbelievable views of the city that only a small number of people will have seen.

The new owner's identity is a mystery, and the price tag remains a secret. This, along with the island's unique history and challenging zoning regulations, is sure to make the future of Red Rock Island an interesting story to follow.

Mystery Buyer Snaps Up Barren Island Near Iconic US Landmark for $25 Million - But Can't Build Anything On It
Credit: dailymail.co.uk
Tags:
Red Rock Island Private island San Francisco Bay Area Island Red Rock Island San Francisco Bay private island mystery buyer Real Estate
Elena Kowalski
Elena Kowalski

Political Analyst

Analyzing political developments and policies worldwide.

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