Developer makes bid for huge swathe of downtown Nantucket
By Associated Press
NANTUCKET, Mass. - Developer Stephen Karp, who already owns four inns on Nantucket, has bid $55 million for at least 48 additional retail properties in the resort island’s downtown area.
If the deal is approved by the limited partners who currently own the properties, at least 50 percent of all downtown commercial real estate would be in the hands of Karp’s Nantucket Island Resorts LLC, Assessor Debbie Dilworth told the Cape Cod Times.
