The Post Exchange · Sullivan’s Island

A NOTE FROM BILL AND SHER

Friends,

Sher and I have spent the last few years bringing this old Army building back to life. It was built in 1906 as the officers’ club at Fort Moultrie, a place for people to gather, and it’s still at its best when it’s full.

We’ve marketed it as a primary residence. We had it under contract at $7.8 million, and that sale didn’t close. What we’ve learned is that this house is at its best as a vacation home. So we’re keeping a share for our family and inviting a few families we know to own the rest with us.

In full candor: the house carries a first mortgage and some project debt today. The project debt is paid off at one closing. The first mortgage is either paid off at that closing or stays mine to carry. Nothing closes until enough owners commit, and I’ll walk you through every document before you decide anything.

If your family would love it here, tell me below and I’ll call you myself. If it’s not for you, no hard feelings.

Bill

THE HOUSE

One of the largest homes on Sullivan’s Island.

Covered back porch at sunset, looking over the lawn and pool

Front porch with a marble checkerboard floor, white rocking chairs and the arched front door

Living room open to the kitchen, under a shell chandelier

Kitchen with a marble island, two large white pendants and a gold faucet

The original ballroom under its pressed-tin ceiling, with bar, billiards and table tennis

The ballroom cleared for a party, looking toward the mezzanine and The Post Exchange lettering

Pool and fire bowls at dusk behind the house

Fire pit and an Adirondack chair on the side patio at dusk

The six-seat golf cart parked at the beach at sunset

The U.S. Army built the Post Exchange around 1906, during the modernization of Fort Moultrie, as the post’s officers’ club and event hall. It was one of four identical buildings; the others stand in Alaska, in Yellowstone and on a base in Missouri. This is the only one ever made into a home.

Fully renovated around 2024, it sits on the island’s highest natural point, between the lighthouse and the fort, a short walk to the beach. A home of its size can no longer be built on the island.

bedrooms: 5
baths: 6
sq ft under roof: 9,271
lot: 0.38 acre
ceilings: 13-ft
roof: Slate
garage: 2-car
sleeps: 14

May 2025 bank appraisal: $10.4 million, available on request.

What’s here

Pool with fire bowls and a spillover
The historic ballroom: pressed-tin ceiling, bar, billiards, table tennis, arcade and basketball
Projector wall for movie nights
Chef’s kitchen
Spa primary bath
Front and back porches
Six-seat street-legal golf cart
A walk to the beach, the fort, the lighthouse and Middle Street restaurants
20 minutes to downtown Charleston

YOUR YEAR

What a year with an eighth looks like.

JFMAMJJASOND

A sample year

Stay	Nights
Spring break	7
Early June	7
Late July	7
Labor Day weekend	4
October	7
Thanksgiving or New Year’s	5
Short-notice weekends	8
Total	45

Premium weeks and holidays are shared through a point system the owners agree to. Stay as long as your nights allow.

Founding owners choose their first year’s weeks first.

WAYS TO OWN

Two ways to share it.

One-eighth

$899,000

45 nights a year
~$3,385/mo for the house
$12,500 one-time reserve

A summer week, a holiday and a few long weekends.

I’m interested in an eighth

One-quarter

$1,699,000

91 nights a year
~$6,770/mo for the house
$25,000 one-time reserve

Two families together, or a full season of your own.

I’m interested in a quarter

Pricing is indicative, not an offer. Nothing closes and no money moves until enough owners commit. Prefer the whole house? It’s available for full purchase at $5,950,000. Text me.

What the monthly fee covers

Line	Per year, whole house	Per eighth
Property taxes*	$76,000	$9,500
Insurance, homeowner’s and flood	$100,000	$12,500
Utilities	$42,000	$5,250
Property management	$36,000	$4,500
Legal and accounting	$2,000	$250
Pool, yard, cleaning between stays, maintenance, reserves	$69,000	$8,625
Total	$325,000	$40,625/yr

*Current bill; taxes may be reassessed after closing. Estimates based on current costs; the owners set the budget each year. No per-stay charges.

HOW IT WORKS

How co-ownership works.

You’re a true owner. Each owner holds membership units in the single-purpose LLC that owns the house. The LLC holds title, insured at closing.
The house is cared for. A local manager handles cleaning between stays, maintenance, the pool and yard, and getting the house ready for you.
One monthly fee funds the owners’ budget. It covers taxes, insurance including flood, utilities, management, upkeep and reserves, split evenly. Owners vote on the budget each year.
Fair scheduling. Premium weeks and holidays are shared through a point system the owners agree to, so every owner gets summer, a holiday and shoulder-season weeks. Open nights on short notice are shared.
Owners and their guests only. It’s a private home. It is never rented, for any length of stay.
You can sell your share. The other owners get first chance, then it’s sold openly. There’s no guaranteed resale market.

WHAT’S NEXT

Refreshed and set up for shared use.

Before the first owner stay, the house is refreshed and set up for shared use. Scope and timing are in the owner documents.

The ballroom as it is today, under its pressed-tin ceiling — Concept rendering. Final design subject to owner input and Town approvals.

Concept rendering: the ballroom on game day, with a maple sport floor, a glass-backboard hoop and a screening lounge under the mezzanine — Concept rendering. Final design subject to owner input and Town approvals.

QUESTIONS

Questions friends ask.

Why share it instead of selling it?

We marketed it as a primary residence and had it under contract at $7.8 million; that sale didn’t close. This house is at its best as a vacation home, and sharing it opens it to families who want their weeks here, not a year-round address. It’s still available whole.

Can I buy the whole house?

Yes, it’s available for full purchase at $5,950,000. Text me.

Why do eight shares add up to more than the whole-house price?

A share comes refreshed and set up for shared use, cared for by a manager, and organized into an owners’ group at one closing. Bought whole, the house is yours to run.

What’s it worth?

A bank appraisal in May 2025 came in at $10.4 million. I’ll share it on request.

Why not just rent a place?

Sullivan’s Island doesn’t allow stays under 28 nights. Owning is the way to have your own weeks here.

Is co-ownership allowed on the island?

In February 2026 the S.C. Court of Appeals held that a home owned by an LLC and used only by its owners is not a vacation rental under the Town’s ordinance. I’ll walk you through where that stands.

Who are the other owners?

People I know personally. My family keeps a share. You’ll know everyone before you sign.

What if not enough shares sell?

Then nothing happens. No money moves until enough owners commit, and everything closes together.

Can I finance a share?

Most co-owners buy with cash or their own line of credit; share-level loans are scarce.

What about hurricanes?

Wind and flood coverage are in the budget, with a reserve. Owners vote on any special assessment.

RAISE YOUR HAND

Your own weeks on Sullivan’s Island.