Nantucket Island Massachusetts Directory of Real Estate Resources

According to the Nantucket Independent:

“Despite the real estate slowdown on Nantucket this year, development of the island showed no signs of slowing.

As Nantucket is largely insulated from mainland economic trends, island-specific factors may have had certain minor impacts on Nantucket’s development picture this year. “

Read Full Article: on Housing Development on Nantucket

After six years of dating Dalton and Jennifer finally tied the knot in Boca Grande, Florida (often called ‘Sconset of the South) on 11/5/05 before 165 friends and family.

It was a week long festivity that will be repeated in the summer of 2007 when brother Pepper gets married!

Pepper II is marrying Angel Conrad. She has lived on Nantucket her entire life and owns a local business.

Todd Sinai, associate professor of real estate at the Wharton School at the University of Pennsylvania, derides bubble theorists as “Chicken Littles.” His article, “Bubble trouble? Not likely,” published Sept. 19 in the Wall Street Journal, explains research that he and co-author Chris Mayer conducted. While acknowledging “rampant growth” in real estate, they looked at the annual cost of owning a house – one’s outlay for mortgage payments, fees, maintenance and the like, minus benefits like interest deductions and depreciation. If you close your eyes to the huge price tags and concentrate on those annual costs, then prices have stayed pretty reasonable …

Last year, the Nantucket real estate market reached uncharted territory – over $1 billion in total sales – and the question on many minds was whether the boom could possibly continue.

Apparently it has. Bolstered by the $75 million sale of more than 100 downtown storefronts, offices and apartments to Nantucket Island Resorts’ Steve Karp, total dollar volume for 2005 reached $1 billion by Halloween, and could near $1.3 billion if the $220 million in sales currently on the books close by the end of the year, island real estate brokers said this week.

The proposed Cape Cod wind farm may face another hurdle because of a defense bill passed by the Senate yesterday that calls for government to study whether the windmills interfere with military radar. The proposed 130-turbine park, to be built in Nantucket Sound, is near a missile defense surveillance system.

This property abuts the newly created Westmoor Club

Dan Egan, the founder of Alamo rental car, recently sold his Westmoor Farm on Nantucket and it has since been turned into a private club with various real estate lots surrounding the main clubhouse and facilities.

The Westmore Club has tennis and pool facilities and has been very successful at filling memberships this summer. The adjacent lots are also selling well.

Forsythia is the name of a house that recently came up for sale right next to the Westmore Farm. For the price of an adjacent lot next door at Westmore Farm you can get an 8 room house with a great rental history for the same price. …

American Gold Eagle coins from 1909 now valued at $3 million.

This may be the most valuable Nantucket Real Estate ever.

A ship called The Republic sunk 50 miles off the coast of Nantucket in 1909. The History of the Republic was a prequel to the Titanic. She was the Titanic before the Titanic.

It sank after a collision with the USS Florida in dense fog.

Forty-seven years later, another infamous liner, the Andrea Doria, would go to her watery grave only five miles away from the Republic.

A modern day treasure hunter believes the reward could be a treasure valued at between $1.6 and $10 billion, though he admits …

This rare parcel of property has recently come on the market for $7M and is an ideal opportunity for the right developer. There is no other property of this size available on Nantucket.

The property is on Millbrook road (off of Hummuck Pond road) and is near Bartlett’s farm and Cisco beach.

The property is 9 plus acres and is zoned R2, meaning it can be divided into 20,000 sq ft. lots. Each lot would require its own well and septic system. 2 areas of wetland have been identified on the periphery of the property. The property is rich in clay and the buyer is responsible for all surveys, perc test …

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 …

American Real Estate Partners announced today that a long standing legal dispute has been settled and the Company is now ready to proceed with its planned residential, commercial and recreational development.

The plan call for up to 450 homes at New Seabury, a premier seaside golf community located on Nantucket Sound in Cape Cod, Massachusetts.

So that means 450 new homes on the golf course only 20 minutes away from Nantucket (by plane).

Maybe Nantuckers who REALLY need to play golf (and can’t get tee times) will purchase a third or forth home here and make the short jaunt over whenever they want to tee it up.

Then again maybe not.

You can read the article from Yahoo! …