Nantucket Real Estate Updates
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J Pepper Frazier Company
Squam Beach
NEW LISTINGSView All
RECENTLY SOLDView All
Oct 4, 2019
Nantucket Real Estate
Town
$995,000
Oct 3, 2019
Nantucket Real Estate
Tom Nevers
$1,970,000
Oct 3, 2019
Nantucket Real Estate
Naushop
$1,060,000
Oct 2, 2019
Nantucket Real Estate
Middle Moors
$1,830,000

GROUND NOTES FROM DALTON
To Have or Not To Have
One of the hottest topics on Nantucket currently is affordable housing. Several developers are jumping on the opportunity to use the shortage of affordable housing to leverage the approval of their development plans. For some it is working, for others, not so much. The Richmond Development Group, which has a major development planned for off of Old South Road, which will include apartments, single family houses and retail/office space, took its time, spoke with Town boards, planners and residents and formulated a plan from the feedback they heard. Although their original plan narrowly was defeated at the 2015 Town Meeting, a Special Town Meeting was called months later specifically to vote on Richmond's plan and it passed no problem.

On the flip side, a developer is trying to strong arm his way through permitting by way of MGL 40B, Sections 20-23, which is legislation aimed at creating affordable housing, to create 50+ apartments on 2.6 acres of land off of Surfside Road - very dense per Nantucket standards. A 40B allows a developer to by-pass zoning and basically get permits by right, as long as 20-25% of the units are deemed affordable. Although Town boards can make comments, they can't approve/disapprove. So, the developer thought he had it in the bag and was going to break ground no matter what the neighbors and/or boards said. Not on Nantucket. The Town says that the particular property is not in the sewer district, therefore it cannot connect to the sewer line and therefore has to be on septic. There is not enough room on the lot to accommodate a septic for 50+ apartments (maybe 9 two-bedrooms on a good day). Might be time for this developer to rethink his approach between his curls.
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LET'S MAKE IT HAPPEN WITH PEPPER II
Both Sides
Lets make it happen, Spring is here!!! Talk about a deal, lets do one today and yes we do one every day. Buyer has a house and finds a JPFCO house which most of them are, and I feel sorry for the few that are not, but I do appreciate the competition.

Lets get bACK to how we make it happen JPFCO style. Buyer makes an offer with cash and their house. Seller said no dice want the dough or no way. Time to make it happen. We pull the rabbit out of the hat, sell the Buyers' house to a JPFCO Client which now creates a Buyer and a Seller both on JPFCO's side. We love to make it happen and we love both sides!!! Lets make it happen.
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RENTAL MARKET UPDATE
Featured J Pepper Frazier Real Estate Rentals
12 Pond View Drive
6 bedrooms in a private Miacomet location + a pool. Beautiful, just completed renovation.
July availability, $25,000 per week.

6 Quaise Pasture Road
6 bedroom Quaise estate complete with a pool on nearly 7 acres.
July and August availability, $25,000 per week.

10 Prospect Street
3 bedroom modern and sophisticated, in town bungalow.
August availability, $7,500 per week.
Learn More →
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FEATURED LISTING
79 Squam Road $12,500,000
Stunning Squam Compound with spectacular Atlantic Ocean views! This custom estate is situated on an elevated bluff with amazing sunrises and panoramic views of the exclusive Squam beach and Sankaty Light House to the south. Private stairs and beach path provide direct access to one of Nantucket's nicest beaches. No expense was spared in this Botticelli and Pohl design, Kathleen Hay designs interior decorated, Ernst Land Design for stonework and grounds, and Ed Toole custom built house, cottage and salt water pool. From the minute you enter this truly special property you can see and feel the quality. Ocean views abound from nearly every room and a floor plan perfect for entertaining friends and family. Full covered wrap around porch with sweeping views of the Atlantic Ocean, generous private grounds with built-in BBQ area and expansive stone walls. There is hand hewn 12" hand finished white Oak floors, and 2" Calcutta Gold marble throughout. Other details include a custom curved three floor staircase, custom iron and glass pendants over the center-Island and chandelier, and high-end natural wall coverings. Other unique details include the crystal fixtures made by Voughn lighting, and an Audrey Sterk mural in the mudroom. Geo-thermal heating and cooling system installed as well as Crestron system throughout. Ship lap, square grid paneling walls with coffered ceilings accented by waterworks fixtures makes this a custom house of unparalleled high-end detail.
79 Squam Road →
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NOTES FROM PEPPER THE ELDER
Punxsutawney Phil
Oil = Texas Gold (or California if you're Jed Clampett). Real Estate = Nantucket Gold. Only it's better than oil because there is no substitute. With some banks and countries paying negative interest rates. Where to park your loot? Nantucket. Mate. Let's hear it loud and clear. NANTUCKET! Even if we go into a recession, which, of course, we will. Recessions are cyclical. They come and go, sort of like Punxsutawney Phil. Although in his case I wish he'd just go. And he can take Pennsylvania with him, along with the guy in the top hat. In my opinion we are already in a recession and Nantucket, like The Proud Mary, just keeps rolling along.

Nantucket real estate is double-barreled. Appreciation and rent. Not to mention depreciation, interest and tax write - offs. It's sort of a racket. Well, it is a racket. But a good one and legitimate. Think what's going to happen when they run out of vacant land. People say, 'Well, they're not making any more." Correct, of course, but in Nantucket's case, between erosion and the plentitude of conservation groups, they are making even less. What happens if the Chinese discover Nantucket? They are willing to pay huge sums for Manhattan real estate with a zero cap rate. What would they pay for Nantucket property? Think about it. Also any suggestions for getting rid of the guy in the top hat?
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HOME | REAL ESTATE | RENTALS | NANTUCKET | JPFCO | NEWSLETTER

One of the oldest and most experienced Nantucket real estate firms
JPFCO | 19 Centre Street Nantucket, MA 02554

Call Us: (508) 228-3202