A wealthy family, descendants of William Ziegler Sr., who co-founded the Royal Baking Powder Company in the 1800s, is selling their private island for $35 million after more than a century of luxury. Hay Island, an 18-acre spit of land off the coast of Connecticut, contained two beaches, a two-bedroom guest house, an infinity-edge pool, and an 8,684-square-foot New England colonial residence that was purchased centuries ago by the Ziegler Family.
The Ziegler Family has caught the market’s attention with a new property ready to be sold
Previously a summer “cottage,” and was recently converted into a permanent home. As family members relocated across the nation, the island in the Long Island Sound became unnecessary. The Ziegler family recently had an eight-figure sale of a private island. The town of Darien purchased Great Island from the Ziegler family for $85 million in 2023, turning it into a public park. The family’s wealth is unknown, but Forbes reports they had $2.8 billion in 2015, including an interest in a cigar company. William Ziegler Sr. contributed to the family fortune’s development by co-founding the Royal Baking Powder Company in the late 1800s.
It is important to note that, according to realtors, the current property was built in 2010. The 8,684-square-foot home, built by Austin Patterson Disston, was formerly a summer hideaway before becoming a full-time dwelling, and it is currently for sale for $35 million. The family no longer frequently visits the Connecticut home because they have moved south. In the past year, the last island in the family’s Connecticut collection, a Palm Beach property, sold for $15.9 million by Helen M. Ziegler, the heir to the baking powder fortune.
With entrance to a screened-in porch, the family room provides space for both indoor and outdoor seating. The library features fireplaces, window seats, a wet bar, and custom bookshelves, the listing says. Likewise, they highlight the chef’s kitchen, as it has plenty of light coming from several windows that include astonishing water views. There are six fireplaces throughout the home, and what’s even better, two additional beaches so people can enjoy the day. The rest of the coastline is rocky, while the infinity pool offers a view of Long Island Sound for those who wish to enjoy the view. A built-in barbecue and outdoor fireplace are other features of the outdoor patio. The property features a two-bedroom guest house with a fireplace, a separate office, and a fully functional kitchen.
Wealthy families are implementing a systemic rethink to significantly influence their investment decisions
Cutting-edge financial managers, family offices, and academic institutions are reconsidering the goal of investments and how to quantify their effects. The rest of the coastline is rocky. There are two beaches on the island. The property features an infinity pool with Long Island Sound views, an outdoor terrace with BBQ and fireplace, and a guest home with two bedrooms, a fireplace, a separate office, and a fully functional kitchen. As traditional frameworks for impact investment and environmental, social, and governance (ESG) are being questioned more and more, many families and practitioners are seeking a more structured method that uses systems thinking to create a long-term, strategic plan.
Systemic investing involves identifying trim tabs – small interventions that can lead to significant change—while avoiding capital deployment in non-regulated or unsustainable ventures, according to a financial expert. This approach aims to catalyze significant change while maintaining a balance between risk and returns. Crucially, a more patient and sophisticated perspective on impact is necessary for systemic investing in addition to a more strategic viewpoint. Mr. Paetzold asserts that quantifying the impact of tree planting is straightforward, but he notes that educating regulators and passing a law protecting a billion trees is a more challenging method.
