William Pitt Sotheby’s International Realty Lists Last Large Undeveloped Waterfront Property on Old Saybrook’s North Cove

10-acre former business site of Ocean Surveys Inc., offers both commercial and residential opportunities

Old Saybrook, Conn. (June 2, 2016) — William Pitt Sotheby’s International Realty announced today that the firm has listed the last remaining large parcel of undeveloped waterfront land on North Cove in Old Saybrook, Conn. The 10-acre property, which formerly served as the operations site of marine data acquisition company Ocean Surveys Inc., is represented by Old Lyme broker Michael Foley, and listed at $2,650,000.

Presently zoned “Marine Commercial,” the Connecticut Shoreline property contains four existing structures totaling approximately 11,000 square feet, none of which are currently occupied. In the 1940s, the land’s original owner was a boat builder who completed repairs and construction in a small 30×80-foot structure adjacent to his house. In 1963, a larger building made out of concrete blocks was added to the property, and rented to a successful sail maker. 1977 marked the year of Ocean Survey Inc.’s arrival, during which time the oceanographic research company rented the sail loft and smaller space, adding offices and a workshop to accommodate its construction of electronics and equipment used for underwater surveying and research. The firm eventually purchased the property, moving this workshop into the previous owner’s house, and refinishing the sail loft as office space.

“This is a very unique property with an interesting maritime history,” said Foley. “The land is well-suited for both commercial and residential use, offering opportunities for a restaurant, resort, spa, offices—the options are endless. Located just a short walk from Main Street, the property is remarkably secluded for an in-town waterfront site, and a developer’s ultimate dream.”

The 10-acre property resides in the widely popular Connecticut Shoreline area dubbed by the New York Post as the “New Hamptons.”

For more information on the property, located at 91 Sheffield Street, please visit the firm’s website here.

About William Pitt and Julia B. Fee Sotheby’s International Realty

Founded in 1949, William Pitt and Julia B. Fee Sotheby’s International Realty manages a $3.9-billion portfolio with more than 1,000 sales associates in 28 brokerages spanning Connecticut, Massachusetts, and Westchester County, New York. William Pitt and Julia B. Fee Sotheby’s International Realty is the largest Sotheby’s International Realty(R) affiliate globally and the 28th-largest real estate company by sales volume in the United States. A full-service real estate firm headquartered in Stamford, Connecticut, William Pitt and Julia B. Fee Sotheby’s International Realty provides ancillary services including commercial services through its affiliation with Building and Land Technology, a second-generation development company based in Stamford, Connecticut; William Pitt Insurance Services; and an award-winning global relocation division. For more information, visit the website at williampitt.com.

Sotheby’s International Realty’s worldwide network includes approximately 18,000 sales associates located in approximately 825 offices throughout 61 countries and territories.

William Pitt Sotheby’s International Realty Contact:

Michael Foley

Real Estate Broker



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