This gorgeous oceanfront compound in Magnolia is prominently positioned on a bluff overlooking the Atlantic Ocean. Built in 1884, "Pine Knoll" has been a retreat for generations. The main house has a gracious flow and enjoys spectacular views from every room. There are several covered porches to spend lazy summer afternoons, an oceanfront, inground pool with bluestone patio to bask in the warm glow of the sun and lush seaside gardens to satisfy the most jaded gardener. Fully restored seawall and majestic stone walls surround the property and yew hedges shelter the rolling lawn. The home features beautiful original wood floors throughout, artist studio on the third floor. Currently configured as a multi-family residence, the home could be restored back to a grand single family or build your dream oceanfront home to join the ranks of the grand North Shore estates. There is a sweet two-bedroom cottage for extended family and guests. The property also has development potential.