Nantucket Harbor has set a new record in residential real estate, with a stunning waterfront estate selling for a whopping $42 million. The sale, which closed today, has not only broken the record for the island but also for the entire state of Massachusetts. Sources have indicated that the buyer of this remarkable property is none other than Dave Portnoy, the founder of the popular media company Barstool Sports.
The estate, comprised of two separate lots – 72 and 68 Monomoy Road – has been transformed into a single property. Interestingly, this luxurious estate was not listed for sale on the market. The final sale price also includes approximately $2 million worth of furniture and other amenities, making it a fully furnished dream home.
Sprawling across a combined 1.2 acres, the property boasts a stunning main house, a guesthouse, and a spectacular pool. These additions were completed by Reid Builders, a renowned construction firm on Nantucket, in 2018 and 2019. The design of the estate was the collaborative effort of architect Andrew Kotchen from Workshop APD and landscape architect Miroslava Ahern.
According to property records, the buyer of the estate is registered as Ferry Views LLC, which is affiliated with local attorney John Brescher. On the other hand, the seller of the property is Steven Cohen, acting as a trustee of both the Mak Daddy Trust and the MAK Shack Trust.
Representing both parties in the transaction was Lee Real Estate, a prominent firm on Nantucket. Shellie Dunlap, a broker from the firm, played a crucial role in facilitating the sale.
This record-breaking sale outshines the previous benchmarks set on the island and within the state of Massachusetts. Just a few months ago, the Monomoy compound at 20, 21, and 22 Berkeley Avenue, located nearby, sold for $38 million, setting a new record at the time.
While Dave Portnoy has not responded to requests for comment regarding the purchase, it is worth noting that he already owned real estate on Nantucket. His previous property was situated on High Brush Path off Hummock Pond Road, and he has been a frequent visitor to the island for many years.
It is interesting to note that the properties at 72 and 68 Monomoy Road were sold in March 2016 to two blind trusts for a combined total of $13.3 million. The previous structures on the lots were subsequently torn down, and the properties underwent a complete redevelopment process.
As this Nantucket Harbor waterfront estate sets a new benchmark in residential real estate, it is a testament to the island’s allure and desirability. With its picturesque setting and luxurious amenities, Nantucket continues to attract wealthy buyers, and this record-breaking sale only adds to its prestige.