Karp a Done Deal at $55 million
The $55 million deal between real estate investor Stephen Karp and Three Winthrop Properties, Inc. becomes final today. The Nantucket Independent reports Karp is hoping the company will accept his offer on more Nantucket parcels.
The process of closing Karp’s purchase of 48 retail properties, including Straight Wharf and Old South Wharf began on Monday. The makes Karp owner of the island’s largest commercial portfolio.
“We’re excited,” Karp said of the closing. “We think it’s a wonderful opportunity. We have a lot of confidence in Nantucket and the future of Nantucket.”
Karp said he has made another offer on a Sherburne Associates property package, which includes 21 Federal.
Only on Nantucket can someone drop $55 million and still want more.
