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Land Resources / News / New York

Peconic Land Trust Works With Suffolk County To Conserve Land Along Peconic River

Source: Hamptons.com
September 28, 2011
Peconic Land Trust President John v.H. Halsey announced the conservation of 13.9 acres of riverfront property in Riverside by Dede Gotthelf, the Trust and Suffolk County.

On September 9, Gotthelf conveyed a total of 13.9 acres along the Peconic River in Riverside to the Peconic Land Trust for $2.43 million. The Trust immediately sold the property to Suffolk County for an equal amount. Since the seller has an appraisal that indicates a higher value for the land, she may be eligible for a charitable gift based on a "bargain sale*."

"Dede has assured the protection of a significant swath of land along the Peconic River. As a consequence, benefits will accrue to the Peconic Estuary and the natural beauty of the riverfront will be protected for generations to come," said Halsey, President of the Trust.

Read the complete article from Hamptons.com »

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