Here I'll post what I think are the best deals on Nantucket. This doesnt mean they are huge bargains nor the cheapest properties on the market, everything is relative. But, these are some properties I like. I'm not working for or represent any island brokers, and generally any agent can show you any house, so who you pick for your agent is entirely up to you.
If you copy and paste into google "Nantucket LINK xxxxx" the listings should come up.
307 Polpis Rd Nantucket LINK 80890 I found this to be the best deal in land because of its price and large compound potential. This, along with the long listing time (2 years) make this ripe for an offer. (UPDATE under agreement 6/23/17)
62 Washington Ave, Madaket, $1.090,000. Nantucket LINK 83291 There arent too many old cottages left on Nantucket, and while I wouldnt call this an antique and probably wouldnt be classified as "Old Madaket" in its truest sense, its still kind of "oldish". Probably a bit of the value here is potential second floor water views, but I like the little ole cottage as it is. Yea its a little cottage and yea its $1M... yea its Nantucket. That said I think the price is OK and will probably sell quick for anywhere over $900K, with an upward bias because there is Jack Squat as far as properties around $1M. Judging by the asking price I would say they are hoping for $1.05M, would probably take $1.0M, with the question being would they take $950K? You dont know until you shove the offer in their face.
20 Miacomet Rd $2,300,000 Nantucket LINK 83332 I like the post and beam architecture (I almost built one on 2 Camelia and still may on the marsh front property I bought down here in SC), and I like the large 2 acre lot, which seems huge to me maybe because it is 16 times the size of the lot I sold! The price here looks good to me, its a lot of house and a lot of lot for the money.
4 Quidnet Rd $2,895,000 Nantucket LINK 82835 This is an old wireless internet customer of mine. I've always liked this house and how it is set way back from the road (the driveway is actually off of Polpis). The cottage in back with its separate entrance could be rented out and you would never see them, its like an entirely separate property. This has been for sale for a while and is about $1M off its original asking price. I'm surprised that its still available, especially at this price.
1 West Chester St EXT $8,750,000 Nantucket LINK 82652 This also was a wireless internet customer at one time. Love the house, love the barn, love the space. This was originally on 30 acres until they sold some off to the Land Bank. I was surprised the Land Bank bought it since it already had a conservation restriction on it, so there was never going to be anything more built on it anyway.
I also think this was called 21R Crooked Lane, or something like that since the entrance was right next to the animal hospital which is numbered 21. This has been on the market quite a while, so maybe its time for someone to make a bid and see what happens. Even at its current price, I'm surprised its still available. There simply aren't many properties like this on Nantucket.
30 Orange St $18,975,000 Nantucket LINK 75078 The link ID should give you a clue as to how long this has been on the market (6 years and 5 days to be exact, starting at $25M on June 12, 2011). I cant imagine what the Maury People have spent in ad space over that time frame. While this is one of my all time favorite homes on Nantucket, it is no "Deal of the Isle" by any means. When I moved to the island in 1993 this was owned by a Texas man who owned the largest privately owned grocery chain in the US (it was started by his grandmother in the 20's with 25 cents, or something like that). He decided to sell, and as far as I remember started it at $4.5 or $5M. He couldnt find a buyer to save his life and eventually sold it for around $2.6M to a former CEO of a company we would all recognize in 1994. Now right at the time he bought it, he also sold the side yard (was a separate lot) for a little more than he officially paid to someone else with the stipulation they couldnt build on it for 5 year. 5 years came and went and then 32 Orange was built. While this lowered his cost of the house as you see it for sale today to just $1.6M (really cheap even for then) this always pissed me off a bit since it was breaking up a grand old property that gracefully topped the hill on Orange St (the house is named "Long Hill"). My thought was (as I was lugging a mail bag looking up at it) dude, if you cant afford the house without breaking it up, you arent worthy of it. So some 20 years later he's trying (and trying and trying) to get $19M out of it. While there are numerous examples of this kind of appreciation in the past 20 years, I'm afraid he's still $6-$9 Million over the mark here. Assessment is $13M, which is about where I would put the ask on this, looking for an offer in the $10-$11M range. I guess we will see...someday. Still, its one of my favorite homes on the island.
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