2.33 acres on the east shore of City Island, Long Island Sound's westernmost island. Across Fordham Street from successful On The Sound development. Currently used as a boatyard and sail manufacturing facility with additional units and tenants. M1-1 light manufacturing zoning requires rezoning to surrounding R3A for residential development which allows 2 family structures with 35' height restriction, FAR up to 0.6. Month to month tenants can fund expected 12 - 18 month rezoning process. Phase 2 from 2004 stated: "No recommendation for additional testing or remediation."