[ISL] "P.E.I. home sells for $4.7M"

[rfmcdonald]

CBC News' Shane Ross reports on one of the most expensive real estate sales on Prince Edward Island.

It went for $3 million less than its original asking price, but a mansion on P.E.I. is now officially off the market.

The six-bedroom, eight-bathroom home — which features a whale watching tower — sold on Friday for a little under $4.7 million. In 2009, it was listed for $7.75 million and had the distinction of being the only home on P.E.I. listed through Sotheby's in New York.

The 13,500-square-foot home is located on 4.5 hectares of land in West Cable Head on the Island's north shore.

"It's the most expensive residential sale on the Island to the best of my knowledge, based on residential MLS data," said real-estate agent Michael Poczynek, who sold the house.

"I mean, if you search for anything in P.E.I. above a million dollars, they're few and far between, you could count them on one hand."