Billionaires' Isle mansion sells for $25M ... but just a few miles away dream homes could soon become WORTHLESS
A charming mansion has nearly broken records for its sold price of $25m on Nantuckets Main Street.
A charming mansion has nearly broken records for its sold price of $25m on Nantuckets Main Street.
The Greek Revival styled home is tucked away from the popular shoreline in the core of downtown Nantucket and holds historic ties dating back to the early 19th century.
Its surrounded by other historic homes and commercial stores.
It was built on 72 Main Street by island builder and craftsman John Coleman for whaling merchant John Wendell Barrett.
Although the house doesnt sport water views, the 6,804-square-foot mansion has six bedrooms, six-and-a-half baths and three parlors to the east, west and rear of the home, according to the listing.
A charming mansion has nearly broken records for its sold price of $25m on Nantuckets Main Street
The Greek Revival styled home is tucked away from the popular shoreline in the core of downtown Nantucket and holds historic ties dating back to the early 19th century
It was built on 72 Main Street by island builder and craftsman John Coleman for whaling merchant John Wendell Barrett
The former owners modernized the house while keeping the historic features, listing agent Bernadette Meyer told The Boston Globe.
Meyer said they refurbished the fireplaces, updated the main staircase with period appropriate railings, restored the iron railings on the front porch, redid the front steps and restored the massive cupola that adorns the roof.
The mansion was purchased by a blind trust called Seventy-Two Main Nominee Trust, the Nantucket Current reported.
Its lofty selling price places it among the most expensive real estate transactions in island history - even more impressive is it matches up to the typical high prices that are expected of waterfront homes in the area.
This is while vacationers are scrambling to sell their coastline beach homes that are under threat of plummeting in the Atlantic Ocean.
The house doesnt sport water views but the 6,804-square-foot mansion has six bedrooms, six-and-a-half baths and three parlors to the east, west and rear of the home
Bernadette Meyer told The Boston Globe the former owners refurbished the fireplaces, updated the main staircase with period appropriate railings, restored the iron railings on the front porch, redid the front steps and restored the massive cupola that adorns the roof
The southern side of Nantucket has always experienced more erosion than other areas on the island.
During winter, strong storms and high winds pull sand away from beaches and pushes wind and water towards shore - heavily contributing to high erosion rates
A 2021 Nantucket Coastal Resilience Plan estimated over the next 50 years there would be $3.4billion in damages across the island and over 2,300 buildings are at risk.
This sale follows two months after Jane Carlin and Ben Giffords $2 million dream getaway was sold for just $200,000 as years of relentless erosion ate away at the shoreline surrounding their house.
Its lofty selling price places it among the most expensive real estate transactions in island history - even more impressive is it matches up to the typical high prices that are expected of waterfront homes in the area
The mansion was purchased by a blind trust called Seventy-Two Main Nominee Trust, the Nantucket Current reported
The 1,700-square-foot home, assessed at a whopping $1.9 million in 2024, now sits dangerously close to the Atlantic Ocean.
Its about ready to go in, Jane told the Nantucket Current. It has really been relentless. It used to be a neighborhood, and you knew who lived where. And now, if you take a drive out there, theres not much to see.
But the couple received an unexpected offer for their home on Sheep Pond Rd from their neighbor, Don Vaccaro, a businessman who owns the property next door.
Vaccaro swooped in to purchase the endangered home for a mere $200,000.
