This iconic Gibson Island estate is now under contract - and has set a record for the island’s highest sale. Perched atop a hill overlooking the Chesapeake Bay, the 5 bedroom, 7.5 bath home offers luxurious interiors and incredible craftsmanship.

The Mediterranean-style home was built in 1929 as a summer home for Olympic gold medalist Robert Garrett (if the name sounds familiar, he was part of the prominent Baltimore family connected to the B&O Railroad and grew up at the Evergreen Mansion, which today is a museum). This home was completely renovated in 2009 and is well-suited for modern living.

Inside, you’ll find grand rooms offering beautiful water views. The heart of the home is the dramatic great room, with vaulted ceilings, an ornate fireplace, wet-bar and access to the terrace. A massive kitchen is fully updated, and features custom cabinetry, high-end appliances, and a sunny breakfast room. There’s also a striking family room and a beautiful wood-paneled library. The floorplan is thoughtful, with elegant hallways and beautiful details around every corner.

There are five bedrooms, each with an ensuite bathroom. A luxurious primary suite features a gas fireplace, spa-like bathroom, and massive dressing rooms.

Additional living spaces include a wine cellar, home gym, and sauna. There’s also an elevator.

The home’s exterior is another highlight. It’s set on more than three picturesque acres overlooking the Chesapeake Bay. Enjoy a beautiful heated pool, hot tub, outdoor kitchen, and lush, inviting gardens.

A detached coach house features a movie theater and studio apartment with an additional full and half bath.

Gibson Island is a private, gated island in Anne Arundel County with less than 200 homes. The Gibson Island Club, an invite-only country club, offers golf, fine dining, tennis, yachting, swimming and more.

Downtown Baltimore is less than 40 minutes away and Washington DC is a little over an hour away.

The details:

• Address: 744 Skywater Road
• Pending sale price: $7,952,000
• Five bedrooms, 7 ½ bathrooms (14,747 square feet)
• Agents: Concierge Auctions and Sarah Kanne, Gibson Island Real Estate, INC.