Entries in Island (2)


Private Island in Florida Being Auctioned Online

Courtesy Fisher Auction(FORT MYERS, Fla.) -- A 1.4 acre private island on the Caloosahatchee River in Fort Myers, Fla., is up for auction for four days only.

The auction, which is being conducted online only, kicked off at 10 a.m. Monday and will close at 2 p.m. Thursday.

"The auction itself is called absolute, meaning the property will sell to the highest and most successful bidder," said Lamar Fisher, president of the Fisher Auction Company, who is presiding over the sale.

The property up for sale is a swordfish-shaped island covered with thick woods that has an assessed value of $42,000, according to Lee County property records.

According to the auction company's property information package, amenities include "deep water access to the Gulf of Mexico and the Atlantic Ocean, breathtaking 360 degree riverfront views and proximity to luxury waterfront estate homes."

Fisher said a potential drawback for prospective buyers is that owners will need to have the capital to improve the property.

"If you want to build a home, you'll need to put in your well, your septic, your electric.  Those are your basic utilities," said Fisher.

And the island can only be accessed by boat, a mere 30-second ride.

Under zoning laws, the highest bidder will be able to build a single family home and other amenities like a boat house or dock.

The island doesn't have a name, but it does have an address: 14700 Island 1, Caloosahatchee River, Fort Myers, Florida, 33905.

Fisher is selling the island on behalf of Pan American Fund LLC, which took back the island when its previous owners, Arthur Paul and Pearl Hoffman, turned the property deed over to avoid foreclosure in April 2008.

Those interested in owning their own island must complete an online bidder registration, as well as put into escrow a $50,000 deposit to the auctioneer's settlement agent no later than this Wednesday at 5 p.m.

Copyright 2012 ABC News Radio


Tech Mogul Plans to Start Independent Island Nation 

David Paul Morris/Bloomberg via Getty Images(LOS ANGELES) -- "The future is limitless," said Peter Thiel , the PayPal co-founder, hedge fund manager and venture capitalist, who is harnessing that concept with his libertarian island nation for exactly 270 residents. In an interview with ABC News last May, the tech mogul described his ideas about finance, philanthropy and innovation, and in new photos released of his island venture, the world gets to see exactly what he's talking about.

Thiel is working with Patri Frieman, previously an engineer at Google, to launch the first of the floating colony offices in the Pacific Ocean by 2012, reported Details magazine.

Thiel, 43, who launched PayPal in 1998 and was depicted in the Hollywood film The Social Network for his role as Facebook's first investor, has already sunk $1.25 million into the independent ocean colony that will be constructed in the waters of the Pacific Ocean, just off the coast of San Francisco. The republic would be independent from federal government jurisdiction and would sit atop a floating 12,000-ton structure with accommodation for 270 residents, he told Details magazine.

The self-made billionaire is working closely with the Seasteading Institute to create sovereign nations in international waters, free from the laws of any country.

The Silicon Valley tech mogul hopes that dozens of similar structures will form an open-minded nation "with full diplomatic recognition by the United Nations," he told Details.

"Seventy percent of the planet is covered with water, and there's so much we can be doing with oceans and it was one of the frontiers that people have more or less abandoned," Thiel said in an interview with ABC News in May. "It's pretty far in the future but closer than, say, building cities on the moon."

Thiel has been credited with transforming the world with PayPal, which he co-founded in 1998.

Thiel has become the poster boy for Silicon Valley libertarianism, the belief among many entrepreneurs that government hinders innovation. Openly gay, Thiel endorsed Ron Paul for president in 2008 and is one of the GOP's biggest donors.

Thiel hopes that the colony will expand beyond its initial space for 270 colonists.

The two-time Stanford graduate who recently made headlines with his decision to pay college students to drop out of school, clearly has an eye for ideas that turn into big, profitable companies.

The Silicon Valley billionaire was reportedly worth $1.5 billion earlier this year.

His ultimate goal for the autonomous colony, Thiel told Details magazine, "is to open a frontier for experimenting with new ideas for government," that include, "no welfare, looser building codes, no minimum wage and few restrictions on weapons.

"When you start a company, true freedom is at the beginning of things," he told the magazine. "The United States Constitution had things you could do at the beginning that you couldn't do later. So the question is, can you go back to the beginning of things? How do you start over?"

Thiel recently invested $2 million "to get college students younger than 20 to drop out of school and start a business with $100,000 each," ABC News reported last May.

While many of the details regarding Thiel's island nation remain unclear (Who gets to live there? Will they pay taxes? Is the island sustainable?) one thing remains certain. Thiel's plan of a floating island nation is a unique venture whose future is worth watching.

Copyright 2011 ABC News Radio

ABC News Radio