4. Rat Island (City Island Harbor)
As is to be guaranteed in New York, for every obscure real estate venture there is always one that tops the last. Enter Rat Island, a 2.5 acre mass of bedrock and broken glass with no vegetation. To the average investor, the island is as devoid of value as it is devoid of life. But you won’t be able to discourage Alex Schibli, a former Port Authority employee and City Island resident who purchased the island for $176,000 in 2011.
Schibli claims that he has always wanted an island getaway, but perhaps he’s realized that such a development would be impractical on a landmass that is known for being completely submerged during average summer thunderstorms.