Gloucester’s Salt Island to be Purchased
October 26, 2017
Gloucester Times: A coalition of Cape Ann conservation groups led by Essex County Greenbelt is negotiating to buy and protect Salt Island. While the broker for the island’s owner says there is not yet any agreement, he acknowledged that he remains in “a few dialogues” in an effort to sell the 5-acre island just off Gloucester’s shore near Good Harbor Beach.
“We’ve been approached by different types of buyers, from families and groups interested in maintaining the island in its current or near-current state, to larger groups exploring development opportunities,” Eric Shabshelowitz of the Boston-based realty firm Cabot & Company said Monday.
His company is marketing the property on behalf of owner Susan McGrath of Melrose, and the estate of the late James E. Kimball, which took over the island for $1 in 1961, according to Gloucester assessors’ records. The island is being marketed for $750,000, though it is classified by city assessors as “unbuildable” and has been assessed at $8,000 each year since 2014.
Read more about the potential purchase of Salt Island off Gloucester, MA.