Old Island, Stamford: Inside Connecticut’s Most Storied Private Island Estate
I have walked through a lot of old homes in my career, but few stop me the way Old Island, Stamford does. It’s not just a house. it’s a private island in Long Island Sound, with a history full of bankers, spies, and one very famous desk. I run rivonhome because homes like this matter, so let’s walk through it.
Where Is Old Island Stamford Located?
Old Island, Stamford sits off Wallacks Point, in the Shippan section of the city. Most people know it as Caritas Island, but locals call it “the old island.” You reach it by a gated causeway at 140 Wallacks Drive. The 3.5-acre island offers roughly 300 degrees of open water views across the Sound, making it one of the last true private islands on Connecticut’s Gold Coast.
The History Behind Old Island Stamford
The estate was first built for the Phelps Stokes family, tied to the Phelps-Dodge mining fortune. Ownership passed to the Gilbert family during the Depression. During World War II, the FBI raided the property and found German spies among the staff. Later, banker John Adams Morgan, once married to Sonja Morgan of RHONY, owned the island for decades.
J.P. Morgan’s original mahogany desk still sits in the main house. It was used during the 1895 financial crisis, when Morgan personally helped stabilize the U.S. Treasury. Owning a piece of financial history like this inside a private home is rare, even among Gold Coast estates with long, well-documented pasts.
The Architecture and Interior Design of Old Island, Stamford
This is where Old Island, Stamford truly stands apart. The main house was built around 1909, in solid stone, with walls nearly 20 inches thick. That’s not decoration — it’s engineering built to survive storms and salt air for generations, a lesson every coastal homeowner should study closely.
Key architectural features include:
- A stone main house with a green slate roof, built for harsh waterfront conditions
- Twelve bedrooms and ten bathrooms across a layout made for entertaining and family life
- A separate three-bedroom stone guest cottage from around 1870, older than the main house
- A six-car detached garage with staff apartments above
- Marble entryways, herringbone oak floors, and a two-story kitchen blending old craft with modern updates
Good design respects its setting — that’s the idea I return to often in our Home Decor section. The stone walls, slate roof, and thick construction here don’t fight the coastal environment, they work with it. That’s true whether you own an island or a small cottage by the shore.
Grounds, Amenities, and Waterfront Features
A private island is only as good as what surrounds the house, and this one doesn’t disappoint. Every outdoor feature here serves a real purpose, built for people who actually lived on the water, not just near it.
| Feature | Details |
|---|---|
| Dock | 200-foot pier with a 13-foot draft, able to fit boats up to 150 feet |
| Pools | A lap pool and a separate saltwater pool |
| Gardens | Formal gardens, terraces, and stone seawalls throughout the property |
| Natural features | A private beach, a natural swimming cove, a pond, and a greenhouse |
| Access | Private gated causeway connecting the island to the mainland |
Old Island, Stamford: Ownership and Sale History
This island has changed hands several times over the past century. Full private islands rarely trade, and when they do, buyers pay for far more than square footage — they pay for privacy, history, and direct water access that almost no other property type can offer.
- Listed for sale multiple times over recent years, on and off the market
- Listed at $7,495,000 as of early 2025
- Sold on October 17 for $7 million, according to Zillow records
- Joseph Barbieri of Sotheby’s International Realty handled the listing
Other Islands and Natural Preserves Near Old Island, Stamford
Stamford’s waterfront isn’t just one island. While Old Island, Stamford stays private, other nearby spots keep the same coastline open to everyone. Here’s what else sits along this stretch of shore, each offering a different way to experience the water.
- Grass Island Preserve — a protected natural area managed by the local land trust, open for walking
- Cove Island Park — an 83-acre public park and beach with trails and open water views
- Cuties Island — a small, mostly wild island once home to a cottage that burned down decades ago
Private estates like this one protect history. Public preserves protect access. Both matter to how this coastline has been cared for over time. The Downtown Stamford Historic District and similar properties are documented through the National Register of Historic Places, a useful resource for anyone studying how Connecticut’s coastal towns preserve older buildings.
Frequently Asked Questions About Old Island, Stamford
Is Old Island, Stamford open to the public?
No. It’s private property behind a gated causeway. You can view it from the water or nearby public shoreline, but the island itself isn’t open to visitors.
Who owns Old Island, Stamford now?
The island sold in October for $7 million. The previous long-term owner was John Adams Morgan, a descendant of J.P. Morgan and President John Adams.
Why is it called Old Island?
Locals use the name informally because the estate has stood on the island for over a century, though its official name is Caritas Island.
What makes this property so valuable?
Privacy, direct water access, a deepwater dock, and a rare mix of history and architecture. True private islands almost never come up for sale on this coast.
Final Thoughts
Old Island, Stamford is a rare property where history, architecture, and setting all line up. The stone construction has held for over a century, the interiors carry real American history, and the island remains one of the last true private islands on Connecticut’s Gold Coast — proof that good design built with care for its environment can outlast almost everything around it.
