Darien offers to buy Great Island; property for sale for $100M

DARIEN — Great Island is officially under contract with the town, according to officials with direct knowledge of the purchase.

The town has been in negotiations with the sellers of the $100 million property, 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 purchased the property in 1902 as a sprawling summer resort, Ziegler’s descendants put it on the market in 2016.

The family’s original asking price, $175 million, was later knocked down to $100 million.

The Board of Selectmen voted unanimously to authorize Darien to enter in negotiations for the property in April. The purchase will be discussed further during a June 6 meeting of the Board of Selectmen, officials said.

On Tuesday, Board of Selectmen member Marcy Minnick shared a post from local Realtor Jennifer Leahy announcing the purchase.

“Exciting news for our town,” Minnick said in her caption, which was posted to a local, private politics page.

Other town officials have confirmed this latest development in the acquisition of the island.

According to the real estate brokerage firm Redfin.com, under contract means that a buyer has made an offer on the property and the seller has accepted but the sale is not final.

“While the property is still under contract, all contingencies must be met before the sale is finalized. That may mean the buyer must secure financing, the home inspection still needs to be completed to confirm the property is free of serious defects, or other conditions that still need to be met in order for the sale to be finalized,” Redfin writes. “Real estate contracts outline many conditions that must be met by both the buyer and seller. If either party fails to meet one of these conditions, the contract is breached and one party may back out of the sale.”