Corcoran is said to be eyeing Tavern Island, a $10.99 million private estate off the coast of Rowayton, Connecticut.
The 3.5 acre island is appointed with an English Country Colonial main residence with six bedrooms and 360-degree views of the water.
First colonized by the English in 1651, the island previously served as a landmark for harbor pilots.
The name Tavern Island emerged after captains and crew members used the island as a drinking spot following a journey at sea.
Christie's Real Estate Listing
The vintage canon and anchor pay homage to the island's past.
The 6,116-square-foot main home features a stone fireplace, two offices, an exercise room, and a steam room. Private Islands Magazine says the stone and construction materials used for the interior and exterior were brought over on frozen waters via oxcart.
There's also a two-bedroom guest cottage that dates back to the 1700s, a boat house with a large game room, and a tea house with a private meeting room.
Christie's Real Estate Listing
The spacious living room with coffered ceilings and a stone fireplace inside the main residence.
As for amenities, the island boasts its own private beach, a 75-foot swimming pool overlooking the sea, and a fire pit.
Christie's Real Estate Listing Take a swim while drinking in views of the Long Island Sound.
Back in the 1950s and '60s, showman Billy Rose owned the island, which he used to host extravagant parties attended by stars like Marilyn Monroe, Maureen O'Sullivan, and Barbra Streisand.
Before that, screenwriter Lillian Hellman is said to have rented the guest cottage.
Christie's Real Estate Listing According to the listing, the island is "accessed via its own mainland lot with a large dock."
Back in April, the New York Post reported that Corcoran had added a $10 million penthouse to her slew of properties. A private island would make for a nice getaway when she tires of high-rise living.
Rick Higgens of Higgins Group Real Estate holds the listing.