A small island in Massachusetts brings in huge sales.
A waterfront compound in Monomoy on Nantucket sold for $38.1 million, making it the highest price ever paid for a single residential property in Massachusetts, The Wall Street Journal reports.
The sellers of the property are venture capitalist Evan Jones and his wife Cindy Jones, a wildlife photographer, The Wall Street Journal reports.
They bought the property in 2006 for $16 million and listed it for $56 million last year, with a final asking price of $48 million.
The unnamed buyers, represented by Dalton Frazier of J Pepper Frazier Real Estate, intend to keep the property for generations, the outlet reported.
Located in the Monomoy area, this 3.5-acre estate boasts 500 feet of waterfront along Nantucket Harbour. The main residence is 11,000 square feet and has four bedrooms, a billiards room, sauna and multiple bars.
In addition, there are two separate guest houses, including a four bedroom house dating back to the early 1900’s.
The Joneses own properties in Hawaii and Wyoming, and they use their Nantucket property as a vacation home. Evan Jones is the founder of jVen Capital, a life sciences investment management firm, and co-founded healthcare technology company Digene Corporation, which was later acquired by Dutch genetic testing company Qiagen.
Shelly Tretter Lynch and Marybeth Gilmartin-Baugher of Compass made the list.
The sale shatters the 2022 Nantucket waterfront record of $36 million and the 2016 record of $35 million for a Millennium Tower penthouse in Boston, The Wall Street Journal reported.
While Nantucket’s real estate market has softened slightly this year, as has other affluent areas, the island’s high-end deals are still notable. The average sale price on Nantucket was $3.39 million in May, down 4.4 percent from a year earlier.
The island has been home to numerous celebrities, including Boston Red Sox owner John Henry, who bought a waterfront estate last year.
— Ted Glazer
