It's a property that would be any nature-loving land owner's dream and it's for sale right now on Martha's Vineyard.

For the $39.5 million asking price, the new owner would get 50 acres of history-soaked land along the water on the Vineyard, but would ultimately have to build their own home on that land.

On Lambert's Cove in Martha's Vineyard you can find a pristine 50-acre property on James Pond that also happens to offer you views of Vineyard Sound and the Elizabeth Islands. What you won't find is a house.

The property is known as "Mohu" and the house that once stood on it has long since been dismembered. All that remains now are the fireplaces where the home stood, a caretaker's cottage, tennis pavilion and a Shingle-style beach cottage that could never be rebuilt again.

It's a very interesting property indeed, perhaps even moreso because of who the previous owner was: American newspaper publisher Katherine Graham.

If the name doesn't ring an immediate bell, Graham is perhaps best known for running The Washington Post as it reported on the Watergate scandal, which eventually led to the resignation of President Richard Nixon. Meryl Streep played her in the 2017 film "The Post."

A powerful woman indeed.

And a nature-loving woman as well.

Which is why back in 1972, she bought 127 acres of land on Martha's Vineyard that many feared would fall into the hands of developers. She saved woods, meadows, beach, pond front and marshland from becoming a waterfront eyesore 50 years ago.

Now, much of that beloved land is back on the market.

Today strict zoning laws, as well as local permitting boards, would come between this gorgeous property and any greedy developers. It also would make for rigid building restrictions as well.

Still, a new family home can certainly be built along this stunning, sandy shoreline property. With the amount of land around, it would easily double as that family's private nature preserve, too.

Perhaps even better for prospective buyers, most of the land around "Mohu" was also part of Graham's 127-acre initial purchase and was sold after her son died in 2017 to a pair of neighbors on Lambert's Cove. The developers swore to keep the land pristine as long as they possess it, giving this property even more natural beauty and personal privacy for new owners to enjoy.

Historic Martha's Vineyard Property Hits Market For $39.5 Million, But Without a House

It's a property with a lot of history and a pretty hefty price tag. And yet the new owner will still have to build their own home once they buy it. See why these 50 acres of land are worth the nearly $40 million asking price.

Want Your Vineyard Property to Come With a House Instead? Check Out This Luxury Listing

Ever wonder what $26 million can get you on Martha's Vineyard? Grab your checkbook as you take a tour of this gorgeous seaside mansion.

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