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JPFCO

Nantucket Real Estate Updates

Apr 2, 2018       Issue: 384

J Pepper Frazier Company
10 & 12 Monomoy Creek Road
 
 New Listings VIEW ALL

Mar 29, 2018

Miacomet
$345,000

Mar 29, 2018

Miacomet
$795,000

Mar 29, 2018

Mid Island
$1,995,000
 
 Recently Sold VIEW ALL 

Mar 30, 2018

Town
$1,450,000

Mar 30, 2018

Naushop
$760,000

Mar 29, 2018

Sconset
$1,480,000

Mar 29, 2018

Town
$1,311,000
 

GROUND NOTES FROM DALTON
  $45k going once, $45k going twice, $45k going three times - leased to the lucky tenant

10 years ago, I leased a Monomoy waterfront property for $40k for a week. 6 bedrooms, 8 baths, pool, gorgeous. Highest $/night for a residential rental. People swooned and swanned - I can't believe they're getting that $... Naturally, I analyzed the numbers. For a comparable suite at one of the high-end hotels, $2k/night was the starting point. 6 bedrooms x 7 nights x $2k/night = $84k.

So, $40k was a value. One may not fill every bedroom, though. But, they get a kitchen, living and dining rooms, yard, privacy, etc. And, for an extra $200/night, they can get turndown maid service. Then, someone built a dialed-in 8 bedroom, 10 bath amazing property in an unstoppable location and leased it for $45k/wk. - some more swooning and swanning. The math: 8 bedrooms X 7 nights X $2k/night = $112k/week. Now, investors have recognized this delta and there has been a proliferation of $45k/wk rentals. End of the day, those rentals are strong values (and don't mess with the swans in Hummock Pond).
 
 

LET'S MAKE IT HAPPEN WITH PEPPER II
  Small Things

Simplicity is a bliss and the small things in life go a long way; Honesty, integrity and loyalty to name a few. Team JPFCO was doing a deal where the Buyer wanted to use the house but the closing had to be after a year in order to avoid short term capital gains. We figured out a way for the Buyer to use the house but the outdoor furniture and grill were gone. Who doesn't like to grill and chill on ACK. Time to make it happen. Team JPFCO bought a grill borrowed some teak furniture and closed another deal!!!

Happy Spring, Lets make it happen:-)
 
 

RENTAL MARKET UPDATE
  Are We There Yet?

It's officially April, Yahoo! And spring...even better!! We can practically hear the energetic laughter flowing out of the Gazebo! We can already visualize oodles of Nantucket Reds walking off the Steamship Wharf! This is the month that boutiques begin to dust off their shelves and our favorite blue and white striped, boat neck sweaters will once again be found neatly displayed through Main Street storefronts. Employees will excitedly start to roll into town; leaves will rustle in warm breezes embellishing where once barren tree tops dominated. Flip flops and sand will replace thick socks and winter boots...

Summer, are we there yet? Summer dreaming will soon be a thing of the past and Summer living our long awaited reality! Don't miss out on the best thing since... Ice cream from the Juice Bar! Call JPFCO and book your summer rental today!!
 
 
FEATURED LISTING
5 Mattapoisett Avenue $4,995,000

Just bring your bathing suit...Rare Cisco offering. 4 bedroom, 5 full and two half bath house in mint condition is being offered turnkey, fully furnished. Renovated and lifted from top to bottom in 2016/17 with no expense spared, including surround sound throughout, central a/c, custom furniture and much more. First floor water views, prime steps to the beach location, view enveloped outdoor living areas, open floor plan - this one is not to be missed.
  5 Mattapoisett Avenue 
 
NANTUCKET REAL ESTATE NEWSWIRE
» The Road to Town Meeting
» Miacomet Pond Opened Illegally
» ICE Apprehended Three on Nantucket
» Article 63 seeks to Halt Housing Project
 

NOTES FROM PEPPER THE ELDER
  Gardenias

There are two important harbingers of Spring, and to me they are as follows: The most obvious of them all, and a uniquely American Experience, the uttering of two monosyllabic words; 'Play Ball'. Maybe because I am mathematically inclined, but I just love baseball.

The other, decidedly not unique, but one of my favorites: The season's first gardenia bloom. Gardenias are so versatile. They are incredibly aromatic and are more than a bit foxy in a female's hair. The other use, and not so obvious is the garnish for an alcoholic drink called a Scorpion. Scorpions were, I believe indigenous to Trader Vic's. They consisted of five or six different rums served in a large shallow bowl with a variety of straws and a gardenia floating in the bowl. We also had another drink served in a plastic sand pail at the Side Walk Cafe, which was part of the Harbor House and situated directly across the street from the Nantucket Yacht Club. They were a rum drink, of course, and Hmmm were they good. I'll see if I can remember the name. Well, I've made myself so thirsty that I've got to go. Cheers!
 
 
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