A new $2 million home on a private island in the New York area could be coming soon to New Yorkers.
The property, called “The New England,” is expected to be completed in 2019, according to the Manhattan-based company that owns the property, Vail Resorts.
The company has said the island will be able to accommodate up to 1,000 people and is expected be able be built as a hotel and apartments, The Wall St. Journal reported.
The New York State Housing Authority is reviewing the potential for affordable housing.
The site, in New York Harbor off the Manhattan peninsula, was once owned by the British colonial government, according the company.
The island was used as a trading post and shipping terminal, but its land has since been used to build residential towers and offices.
It is located in the heart of the Manhattan boroughs, near the World Trade Center and Battery Park City.
Vail Resort has a fleet of 1,600 cars and trucks in the region.
Vance Wooten, a Vail spokesman, said the company would “continue to explore the opportunities in this market” with other locations.
The land is near the Statue of Liberty and has the potential to be used for housing, according Vail.
The price of a two-bedroom, two-bathroom apartment is $2,831 a month, according Airbnb.
It is a significant drop from the $3,900 a month it was paying in 2016.
Vollmer is one of the wealthiest people in the world, Forbes magazine reported.
He has also bought properties around the world and sold them to foreigners, including a $25 million home in London that has been empty for more than a decade.