Mountain Oasis Fit For a Billionaire Comes to Market For $97.5 Million

We are proud to share The Coley Group’s newest listing, in collaboration with Live Jackson Hole Legacy, Falling Waters.

Nestled within the majestic Appalachian mountains of North Carolina lies a pristine gem waiting to be discovered. This breathtaking opportunity that beckons to both nature enthusiasts and visionary investors is the largest piece of land ever offered for sale in the state-6,500 acres of unspoiled beauty and listed at $97.5M.

Bloomberg recently featured the property in an article, written by Amana Albright.
Read more about what Bloomberg sees in Falling Waters.

Mountain Oasis Fit For a Billionaire Comes to Market For $97.5 Million

A 6,500-acre tract near Boone, North Carolina, with waterfalls, lakes and, meadows is being offered by a seller who wishes to remain anonymous.

By Amanda Albright

May 17, 2023 at 9:30 AM CDT

A tract of land in the mountains of western North Carolina that’s more than seven times the size of New York’s Central Park is on the market for $97.5 million.

The secluded 6,500-acre property — nicknamed Falling Waters — features miles of hiking trails, five waterfalls, nine lakes and ponds, and meadows for horses or livestock. It’s located near Boone, a town of about 18,000 nestled in the Blue Ridge Mountains that’s home to Appalachian State University.

“I call it a state treasure,” said Gretchen Coley, who leads Raleigh-based Coley Group, a partner of Compass Real Estate. Her group is representing the property in collaboration with Wyoming-based Live Jackson Hole Legacy Properties. 

She said it’s rare to find a tract of private undeveloped land this large in western North Carolina, an area that’s seen an influx of retirees and vacation-home owners in recent years. The seller didn’t want his identity to be disclosed, she added. A wealthy individual who’s passionate about the environment could be a potential buyer, Coley said. 

They could take advantage of conservation easements, which would ensure the land remains in its current state while providing tax benefits to the owner. A conservation group could also buy the property for a park, she said.

“We definitely have some interest from off-market buyers,” Coley said. “We have been putting feelers out in an effort to ensure this property gets conserved.” While the seller prefers that the land remain pristine, it could be developed, said Jeff Davis, a trustee and broker of the property. “This is the best place I’ve ever seen in private ownership,” Davis, who serves as a consultant to investors in rural properties, said in an interview.

Click here to read the full article.

Learn more about Falling Waters and download the property brochure.