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7 Stearns Point Road, Shelter Island, NY, 11964 | $3,995,000
Step into timeless elegance with this iconic single-family residence with an option for an owner-occupied 5-bedroom bed & breakfast (B&B) license. Originally constructed in 1902 and beautifully reimagined to meet modern standards. Nestled in the serene Shelter Island Heights, 7 Stearns Point Road offers an exquisite blend of historic charm and contemporary luxury. This expansive property sits on a 0. 70- acre parcel, equipped with 5, 838 +/- sq. ft. of living space, plus a spacious basement level adding 2, 588 +/- sq. ft. The property features 7 ensuite bedrooms complemented by 2 large living rooms and a well-appointed kitchen. Recent renovations have expanded the living space to include an extension with 2 additional bedrooms, a stunning double-height Great Room, as well as a state-of-the-art gym/yoga studio. Enjoy the beautiful backyard with a heated 40x18 in-ground Gunite pool, perfect for relaxing after a day exploring the nearby Crescent Beach and Sunset Beach which is moments away. The property also includes a full liquor license, which enhances its appeal as a premier vacation destination. The spacious basement areas provide ample storage and laundry facilities, ensuring convenience. A wonderful investment opportunity for an owner-occupied 5-bedroom bed and breakfast. The property also includes 2 driveways. Key Features: - Historic property built in 1902, fully renovated - 9 bedrooms and 9 bathrooms, including recent additions - Option for an owner-occupied 5 Bedroom bed and breakfast - Two driveways - Heated 40x18 in-ground Gunite pool - State-of-the-art gym/yoga studio - Full-height basements for storage and laundry - Walking distance to Crescent Beach & Sunset Beach - Full liquor license
Features
- Rooms: 15
- Bedrooms: 9
- Baths: 9 full
- Units: 2
- Style: Barn
- Year Built: 1902
- Heating: Oil, Forced Air, See Remarks
- Cooling: Central Air, Window Unit(s)
- Basement: Full, See Remarks
- Approx Sq. Feet: 5,838
- Acreage: 0.7
- Est. Taxes: $8,017
- Lot Desc: Corner Lot
- Middle School: Shelter Island School
- High School: Shelter Island School
- School District: Shelter Island
- Appliances: Cooktop, Dishwasher, Dryer, Microwave, Oven, Refrigerator
- MLS#: 3569658
- Days on Market: 105 days
- Website: https://www.raveis.com
/prop/3569658/7stearnspointroad_shelterisland_ny?source=qrflyer
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
7 Stearns Point Road, Shelter Island, NY, 11964
$3,995,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $3,196,000 | $3,196,000 | $3,196,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
| Monthly Tax Payment | $668 | $668 | $668 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $18,147 | $19,678 | $26,540 |
| Total Monthly Payment | $18,940 | $20,471 | $27,333 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535