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Market Insights: 5 Summer Vacation Destinations

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The Grace Estate encompasses nearly nine waterfront acres on Islesboro Island in Penobscot Bay. 

Philadelphia architect Wilson Eyre designed the Renaissance Revival stucco “cottage” in 1918 for Louise Grace at the behest of William Russell Grace, the shipping magnate and former mayor of New York City.  

Situated at the end of a private peninsula, the property offers complete privacy and views extending from Penobscot Bay to Camden Hills and Seal Harbor.  

The property has been updated for contemporary tastes, while retaining its classic period character. The main residence is grand and welcoming with its spacious living and dining areas, and intimate areas—indoors and outside—for quiet contemplation.   

There are ample accommodations with seven en suite guest bedrooms and a private owner’s suite with two bathrooms and multiple closets. A stone guest house at the water’s edge was inspired by Italian seaside cottages and offers great potential for further development. A lovely saltwater swimming pool was reconstructed by the current owners, who also built a paddle tennis court.  

The landscaped, wooded grounds include elegant seating places and quiet clearings to take in the breathtaking coastal views.

The property has some 3,570 feet of shorefront, with granite ledge and sand and pebble beaches, a boathouse, and a custom-built deep-water dock with a kayak ramp. Several additional storage buildings—including a chicken coop—and a recreational pavilion are further amenities. 

The mainland, three miles distant, is accessible via a 20-minute ferry ride across upper Penobscot Bay or private aircraft landing on Islesboro island’s 2,500-foot airstrip. 

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