From the looks of the property transfers last week, it appears 2008 is off to a strong start. See property transfers below courtesy of the “Nantucket Independent”.<\/p>\n
Dalton<\/p>\n
PROPERTY TRANSFERS
\nJan. 7, 2008 ~ Jan. 11, 2008<\/p>\n
1. A house on 2.1 acres at 71 Pocomo Road sold to Waypoint, LLC, of
\nNewtown Square, Pa. from John R. Schwanbeck and R. Penelope Scheerer,
\nTrustees of 71 Pocomo Road Realty Trust of Nantucket, Mass. for
\n$8,600,000. The property is assessed at $7,947,500. The land bank fee
\nis $172,000.<\/p>\n
2. A house on .45 of an acre at 64 Hulbert Ave. sold to HA Acquisition,
\nLLC, of London SW1VZNS, England from Sunset Realty Limited Partnership
\nof Rowayton, Conn. for $8,000,000. The property is assessed at
\n$4,819,100. The land bank fee is $160,000.<\/p>\n
3. Ahouse on .44 of an acre at 31 Sankaty Road sold to Timothy Kelly of
\nNew York City, N.Y. from R & D Realty Trust of Milton, Mass. for
\n$3,600,000. The property is assessed at $4,083,800. The land bank fee
\nis $72,000.<\/p>\n
4. A building on .03 of an acre at 54 Main St. sold to ReMain 54, LLC,
\nof Nantucket, Mass. from Mary H. Beman of Nantucket, Mass. for
\n$3,200,000. The property is assessed at $2,912,600. The land bank fee
\nis $64,000.<\/p>\n
5. Ahouse, Unit 2, on 2.09 acres at 9 Crow’s Nest Way sold to Douglas
\nH. Kennedy of Chappaqua, N.Y. from Colette M. Abbott, Nancy L. Zylstra
\nand Kara M. Busch of Vermillion, S.D. for $3,091,200. The property is
\nassessed at $4,096,500. The land bank fee is $61,824.<\/p>\n
6. A house on 2 acres at 3 Maxey Pond Road sold to Penelope Sheerer and
\nJohn R. Schwanbeck of Nantucket, Mass. from Darlene Kerr of Syracuse,
\nN.Y. for $2,500,000. The property is assessed at $2,142,300. The land
\nbank fee is $50,000.<\/p>\n
7. A house on 2.09 acres at 9 Crow’s Nest Way sold to Booya, LLC, c\/o
\nDmytro Fedkowskyj of New York City, N.Y. from Colette M. Abbott, Nancy
\nL. Zylstra and Kara M. Busch of Vermillion, S.D. for $1,738,800. The
\nproperty is assessed at $4,096,500. The land bank fee is $34,776.<\/p>\n
8. A house on .22 of an acre at 98 Baxter Road (36% interest) sold to
\nRichard A. Savery of Sherborn, Mass. from Richard A. Savery, Trustee of
\nBay Trust 2000 Nominee Trust of Sherborn, Mass. for<\/p>\n
9. A condominium, Unit 3, at 14 Amelia Drive sold to Thomas Kelly of
\nNantucket, Mass. from Dameano Nominee Trust of Nantucket, Mass. for
\n$490,000. The property is assessed at $941,000. The land bank fee is
\n$9,800.<\/p>\n
10. A condominium, Unit 1 of 5B Pine Tree Road Condominium at 5B Pine
\nTree Road sold to Nancy Tobias of Nantucket, Mass. from Roger Caruso of
\nNantucket, Mass. for $395,000. The property’s assessed value is
\nunavailable. The land bank fee is $7,900.<\/p>\n
11. A timeshare interval, Time Period 25, Unit A-5 in Building A at
\nBrant Point Courtyard Condominium on Swain Street sold to Michele M.
\nBecci of Doylestown, Pa. from Carolyn McCannon of Cambridge, Mass. for
\n$6,000. The property’s assessed value is unavailable. The land bank fee
\nis $120.<\/p>\n
12. A house on .15 of an acre at 119 Main St. sold to Vanessa L. Green
\nof Littleton, Colo. from Burges M. Green of Littleton, Colo. for $10.
\nThe property is assessed at $2,326,000. The land bank exemption is C.<\/p>\n
13. Ahouse on .15 of an acre at 119 Main St. sold to Allison C. Green
\nof Littleton, Colo. from Burges M. Green of Littleton, Colo. for $10.
\nThe property is assessed at $2,326,000. The land bank exemption is C.<\/p>\n
14. A house on .15 of an acre at 14 Kittiwake Lane sold to Kathleen L.
\nTracy of Boston, Mass. from Ernerst M. Haddad of Boston, Mass. for $0.
\nThe property is assessed at $1,046,800. The land bank exemption is K.<\/p>\n
15. Ahouse on .22 of an acre at 98 Baxter Road sold to Janice S. Savery
\nof Sherborn, Mass. from Richard A. Savery of Sherborn, Mass. for $0 The
\nproperty is assessed at $1,895,600. The land bank exemption is C.<\/p>\n
16. A vacant lot on .34 of an acre at 3 Cobble Court sold to Karl
\nOttison and Susan Ottison, Trustees of Random Winds Realty Trust of
\nNantucket, Mass. from Susan F. Chase nka Susan Ottison of Nantucket,
\nMass. for $0. The property is assessed at $517,700. The land bank
\nexemption is D.<\/p>\n
17. Ahouse on .95 of an acre at 21 Boulevarde sold to Alfred E.
\nKristensen and Mary Ellen Kristensen of Queensbury, N.Y. from Mary
\nEllen Kristensen of Queensbury, N.Y. for $0. The property is assessed
\nat $1,520,000. The land bank exemption is C.<\/p>\n
The Nantucket Islands Land Bank gained $657,177.61 in transfer tax fees
\nfor the week ending Jan. 12. For 2008, the Land Bank gained an
\nestimated total of $998,157.61 in transfer fees. Land bank income is
\nderived mostly from the collection of a two-percent transfer tax on
\nreal estate transactions, subject to certain exemptions. The land bank
\nacquires, holds, and manages land for open space and recreation on
\nNantucket. Other revenue sources include investments, private
\ncontributions, leasing of the Lily Pond Cottage at 15 North Liberty
\nSt., and properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road,
\nand 22 Broad St.<\/p>\n
NOTES ON EXEMPTIONS Many of the property transfers recorded with the
\nLand Bank are exempt from the two percent transfer fee using one of 13
\nexemptions allowed by the Land Bank Act as follows: A: transfer to
\ngovernment entity. B: transfer which, without additional consideration,
\nconfirms, corrects, modifies, or supplements a previously made
\ntransfer. C: transfer made as a gift without consideration. D: certain
\ntransfers to and from a trust. E: transfer via death or bankruptcy. F:
\ntransfer made in partition of land and improvements. G: transfer to
\ncharitable organizations. H: transfer to a mortgagee in foreclosure of
\nthe mortgage. I: certain transfers made to or within a corporation or
\npartnership. J: certain transfers out of a corporation or partnership.
\nK: transfer due to divorce. L: transfer of property that is partially
\npersonal property and partially real property. M: certain first-time
\nproperty buyers (applies to the first $400,000). The above explanations
\nare abbreviated because the language explaining these exemptions is too
\nlengthy to print in this section every week. If you’re curious about a
\ncertain exemption, go to the Nantucket Islands Land Bank Web site for
\ncomplete information on the exemptions and the land bank’s governing
\nbylaws: http:\/\/www.nantucketlandbank.org. Or visit<\/p>\n","protected":false},"excerpt":{"rendered":"
From the looks of the property transfers last week, it appears 2008 is off to a strong start. See property transfers below courtesy of the…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-119","post","type-post","status-publish","format-standard","hentry","category-real-estate-news"],"_links":{"self":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/comments?post=119"}],"version-history":[{"count":0,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/posts\/119\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/media?parent=119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/categories?post=119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jpfco.com\/dir\/wp-json\/wp\/v2\/tags?post=119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}