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JPFCO

Feb 1, 2017       Issue: 351


Nantucket Real Estate News

J Pepper Frazier Company

The Nantucket Nashaquisset Farm House

RECENT MARKET ACTIVITY

 New Listings
Tom Nevers$2,695,000
Town$3,795,000
Town$3,795,000
view all 
 Recently Sold
Surfside$3,400,000
Town$1,550,000
Monomoy$775,000
Mid Island$750,000
view all 


GROUND NOTES FROM DALTON
  Classic Nantucket

An abutting property of one of my clients came on the market. I called him and said Whip, you should buy this - just like in backgammon, when you control abutting points/properties, you are in a stronger position. He said he'd pass for now. In the meantime, he did work on his property and had to get a survey done.

He called me and said what's going on with the property. I said it's available, let's do it. He said, let's do it. So, we did it. He said, after we close, I'll tell you why I'm buying the property. We closed and he said aren't you curious? I said always. He said his $5K shed was on the abutting property and he didn't want to deal with moving it, so he bought the property. $1.5mm property because of a $5K shed - gotta love it. Welcome to ACK! Market continues to move – a property just sold for $5mm on Washington Street! Off to the land of no zoning next weekend – will report bACK.

LETS MAKE IT HAPPEN WITH PEPPER II
  Right of First Refusal

The great thing, there is beauty in everything, just some more then others but let all be equal and to each of their own. I personally like to live on this beautiful Island and make it happen daily with my blood brother. Wheeling and dealing making it happen for all the clients that swing by our doors at 19 Centre.

Seller (not listed new construction) is approached by a JPFCO agent. The JPFCO agent is working on putting together a deal with the Seller and a Buyer. The deal is the Seller (NL) won't sell until 2018 but a Buyer is saying "I don't want to miss '17 summer on the Rock." Team JPFCO comes up with a plan for the Seller to lease the house for market rate to a Buyer but with this lease there is a ROFR for the leasee. Deal is done and the future looks bright. Let's make it happen!!!

RENTAL MARKET UPDATE
  Nashaquisset

Are you looking for a great Nantucket getaway that's both fun and affordable? Then look no further than Nashaquisset. This quaint community ideally located between Town and the south shore beaches is the perfect vacation destination for families and adults looking to get away. The community of Nashaquisset offers a heated pool and two tennis courts for tenant's enjoyment and our rental homes are charming and fully equipped with all the conveniences of home to help make your vacation a memorable one.

We have 30 homes in our Nashaquisset Rental Program and there are still some prime weeks available in July and August, but they are booking up fast. So don't miss out! Give us a call and book your Nashaquisset vacation today! Please click on the link below to check out this four bedroom, 3.5 bath Nashaquisset home that's been beautifully decorated in Restoration Hardware and Pottery Barn style.
 17 Washaman

FEATURED LISTING

  4 Pilgrim Court $5,950,000



Stunning Hanley Development compound moments to Town, Cliff Beaches and The Westmoor Club in a bucolic setting overlooking almost 4 acres of conservation land. The exquisite design and finishes are for the most discerning buyers. The light bright free flowing spaces seamlessly transition between the open living areas to the meticulously landscaped, private pool. The property features a 6 bedroom main house, garage with studio above and pool on an oversized lot. Property is currently under construction, so there is time to customize the finishes. Please note, the pictures are examples of properties that Hanley Development has built.
  4 Pilgrim Court

NANTUCKET REAL ESTATE NEWSWIRE
» Richmond Development Inches Closer to Approval
» Madaket Erosion Plan
» Plan for 17 High End Homes approved on Hawthorne Lane
» Nantucket Book Festival Line Up

NOTES FROM PEPPER THE ELDER
  Go Pats!

Well, once again I fooled myself. I thought this real estate fund would be a 'piece of cake.' But, no way. Getting investors? Not a problem. Finding properties? Tres diifiicile. Of course, I could put investors into pieces of junk, but I can't do that and I don't want mail- call, or anything, for that matter, with Bernie Madoff, who does, by the way, get his correspondence at the same time and same place as Alan Stanford of Antigua B.W.I. fame. Crime pays? Hmm. Okay. Pick the location. Not a problem. But other people have ferreted it out as well. So, the question is. How do you get good, or maybe, great properties at a discount? I'm working on it.
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