Land Bank buys moors property for $5 million
The Nantucket Island€™s Land Bank purchased nearly 50 continuous acres of land in the middle moors on Friday, a $5 million deal that has been in the works since 2000.
Two parcels €“ 44 and 48 Almanack Pond Road €“ make up the 47.26 acres. A 10-acre parcel was purchased from Sheddon Sanguinetti. The remainder was part of a family trust owned by Sanguinetti and Lee Holmes, said Savetsky.
€œIt€™s wooded hilly property overlooking Stump Pond and Windswept cranberry bogs,€ he said. Considering the caliber of the property, the $5 million price tag was a very good deal, said Savetsky.
