A large section of a historic island in Portland Harbor sold recently for $5,350,000.
The sale of the northern half of House Island was announced in a news release last week by Beth Taylor, assistant vice president for Legacy Properties Sotheby’s International Realty in Portland, who represented the island’s sellers.
The 12-acre property features 3,980 feet of usable ocean frontage and five sandy beaches, all just minutes from Portland’s waterfront. It includes three renovated homes, a barn with caretaker’s quarters, and a 375-foot deep water commercial-grade pier, Taylor said. It was marketed as a personal compound as well as a luxury hospitality and event venue.
The property was purchased by House Island Holdings LLC, an affiliate of PF Capital Fund. PF Capital Fund is an investment vehicle for the Portland Foreside project along the city’s eastern waterfront.
Casey Prentice and Kevin Costello are managing partners of both PF Capital and the Portland Foreside project.
Prentice intends to rent the House Island property in 2022 and 2023 for weddings, clambakes, corporate retreats and other events, according to Taylor.
Prentice also leads the Prentice Hospitality Group, which owns and operates several local businesses, including the Chebeague Island Inn; a Portland-based catering company, 58 Culinary; EVO Kitchen and Bar in Portland; the Marina Bar in Portland; the Maine Classic Car Museum in Arundel; and Twelve, a restaurant scheduled to open on Thames Street in Portland this summer.
Prentice also owns Fore Points Marina, which is a five-minute boat ride from House Island, according to Taylor.
“In order to find the right fit, we needed to cast a broad and creative net while marketing House Island to both residential and commercial buyers,” Taylor said. “There was strong interest from several large families looking for a private retreat, as well as in-state and out-of-state hospitality groups.”
In 2015, the Portland City Council voted to grant historic status to House Island after it had been placed on the Greater Portland Landmarks “Places in Peril” list in 2012. Although the designation doesn’t bar future development, it does mandate that most plans go through the city’s Historic Preservation Board.
The southern half of the island is home to Fort Scammel, a fortress constructed in 1808 and used to protect Portland during the War of 1812 and the Civil War.
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CORRECTION: This story was updated at 7:23 p.m. on April 11, 2022, to correct the name of the buyer.
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