A rare opportunity to own one of the largest and most iconic lakefront estates in the exclusive Lake Toxaway community. This gently sloping 2.89-acre compound spans five combined lots and offers unmatched views of Lake Toxaway, Hogback Mountain, and the historic Greystone Inn. The property includes a beautifully renovated, nearly 2,000 sq ft 3BR/2.5BA cottage, a private dock, a lakeside stone patio with fire pit, a lush open meadow perfect for lawn games, and a serene shallow cove-ideal for swimming, paddleboarding, or safely watching little ones play by the shore. The grounds are rich with natural beauty, including sightings of rare white squirrels. Perched at the top of the property with sweeping lake views, the cottage features a gourmet kitchen with upscale appliances, designer finishes, a carport, and a circular driveway. It's the perfect place to enjoy the property while building your dream home-and an ideal guest space once your dream is realized. Included in the sale are architectural plans for a thoughtfully designed, nearly 6,000 sq ft residence, years in the making. This two-story home features four spacious bedrooms, five and a half bathrooms, a main-level primary suite with dual baths and walk-in closets, and a soaking tub set in a windowed corner overlooking the lake. A private guest suite sits above the two-car garage, while the lower level offers a recreation room with wet bar, sauna, yoga/meditation space, laundry room, and generous storage. Outdoor living is exceptional, with a 500 sq ft screened porch with fireplace, a 1,000 sq ft boathouse observation deck, and a lower stone patio leading to a hot tub, outdoor shower, and direct lake access. The property is grandfathered for a rare and invaluable 20-foot lakefront setback-offering truly unmatched proximity to the water. Located within a private HOA, gain access to North Carolina's largest private lake, a full-service marina, the Greystone Inn, and Lake Toxaway Country Club. This peaceful, jet ski-free lake features light boat traffic-perfect for kayaking, waterskiing, or fishing for bass right from your dock. All just one hour from Asheville Regional Airport. A multi-generational retreat where memories will be made for decades to come.