$29.5M Offered for Four Acres on the Cliff
Monday, February 28th, 2005By James Kinsella
I&M Staff Writer
A New York-based developer has agreed to pay the full $29.5 million asking price for a four-acre property on the Cliff, a deal that if it goes through would be the most expensive residential real estate transaction in Nantucket history.
Stephen Meister, who also is an attorney and a seasonal resident, plans to buy the property that overlooks Nantucket Sound from Sherburne Way and Lincoln Avenue, said his son, Jason Meister, a real estate broker at J. Pepper Frazier Real Estate.
The potential sale comes against the backdrop of a continuing white-hot real estate market on the island. According to sales figures compiled by Denby Real Estate, $536.4 million in real estate has been sold through August, more …
