Country Village Rentals and Real Estate Weblog

By Margaret Carroll-Bergman
I&M Staff Writer

The president of the United States will have exclusive permission to land his helicopter on Linda Loring’s 270-acre proeprty off Eel Point Road, under a conservation restriction approved by the Board of Selectmen last night associated with the Land Council’s purchase of the property’s development rights for $14,000,000.

Part of the money used to purchase the conservation restriction - which includes a condition allowing the construction of a helicopter pad - will come from the Land Council’s sale of 31.73 acres on Quidnet Road to Nantucket Land Bank for $3,000,000, a deal set to close next month.  The remaining $11,000,000 was funded by over 1,500 private donations and community preservation funding.

Loring lives across the street from U.S. Senator John Kerry on Beacon Hill in Boston and had asked Kerry, when he was the 2004 Democratic presidential candidate, if he would be interested in having a helicopter pad on her Eel Point property if he became president. 

To read the full article, check out the Inquirer & Mirror soon (not on their website yet)…

By Peter A. Sutters Jr.
I&M Staff Writer

“Delta plans to begin offering service between Nantucket and John F. Kennedy (JFK) airport in New York City in June on 50 passenger Embraer ERJ145 jets.”

Nantucketers will soon have another option to New York City.  Coming on the heels of last month’s announcement by discount carrier JetBlue that it would be offering flights between Nantucket and John F. Kennedy Memorial Airport in New York City, Delata Airlines announced a similar plan yesterday.

According to a press release, Delta will be flying two round-trips between Nantucket and JFK from June 14 through September 8 on Embraer ERJ145 jets, which seat 50 passengers.

…

JetBlue service is scheduled to start May 24 and run through September 10, with fares ranging from introductory $49 each way to regular fares between $79 and $279 each way…

To read the full article, check out the Inquirer & Mirror soon (not up yet on their site)…

By Peter A. Sutters Jr.
I&M Staff Writer

One of the last rolling pine dunelands on Eel Point could soon be developed.  The Planning Board on Monday night gave preliminary approval to a four-lot waterfront subdivision on just over nine acres off Eel Point Road near the popular Land Bank-owned 40th Pole beach access.  Each lot would be developed with both a primary and secondary dwelling…

To read full article, check in with the Inquirer & Mirror soon (it’s not on their site yet…)

By Peter A. Sutters, Jr.
I&M Staff Writer

The Steamship Authority’s new fast ferry, the $9.7 million Iyanough, was unveiled at the Hyannis terminal yesterday to a handful of media representatives who were given a tour of the vessel and treated to a slide show of the construction process.

The sleek 154-foot catamaran, built by Gladding-Hearn Shipbuilding of Somerset, Mass., will make the 26-mile trip to Nantucket on Saturday and will be open to the public from 11 a.m. to 2 p.m. following christening and commissioning ceremonies.

The boat will begin regular service between the mainland and Nantucket Wednesday.

To read the full article, click here…

By Brian-Logan Reid, Broker

In the time that I’ve lived on Nantucket, I’ve witnessed Nantucket become ever more a playground for the rich (or what is becoming more so the case, the VERY rich).  After some conversations with friends and colleagues, I began thinking about all the ways that Nantucket may just be becoming a secluded playground for the affluent:

• The Nantucket Yacht Club - Members only - you could imagine what it’s like trying to get into this club (I’ve heard the wait list is over 30 years…) 
• The Great Harbor Yacht Club - Members only (still under construction) - 300 members, membership cost is $300,000… 
• The Sankaty Head Golf Club - Members only - I’ve heard the membership cost is only $30,000 (and maybe I’m missing a 0), but the wait list is extremely “extensive”…
• The Nantucket Golf Club - Members only - Membership cost is $450,000 and a five year wait list…
• The Westmoor Club - Members only - This most recent tennis club does not have a wait list, but the membership cost is $250,000 (last I heard)…
• The Sconset Casino - Sconset residents and renters only - a tennis club located in Sconset; nominal membership cost…
• The Nobadeer Swim and Tennis Club - Members only - a facility located in Mid-Island with tennis courts, full gym and spa - membership cost is $25,000 (at least that’s what it was 2 years ago)…
• The Point Breeze Hotel is undergoing an enormous renovation that will convert it into a luxury hotel with full spa and five star restaurant; memberships will probably be available…
• Time and Place Homes owner Mitch Wiley recently purchased several condo units and outbuildings on Nantucket Harbor.  I believe he will be creating a truly unique collection of high-end condos/houses/cottages located right in Town and right on the harbor…

Wow!  I didn’t realize how exhaustive the list really is!  Well the good news…I think…is that because of a lack of large contiguous property left to build on Nantucket, no more golf courses will be built! (hmm…on second thought, don’t hold me on that). 

There definitely is some cache in saying “I’ve got a house on Nantucket”…maybe it has to do with this exclusive mentality…

Just some of my thoughts…

by Brian-Logan Reid, Broker

I personally do not know if this is a record or not (it’s GOT to be close), but someone rented a house on Nantucket for 10 days, for $100,000!  Yes folks, that’s $10,000 PER DAY…must be SOME house…

Most recently, I’ve heard that there is a house for rent for $50,000/wk and it’s not even waterfront!!  The compound is located in Quidnet with water and Sankaty Head views, but come on…no direct beach access?? 

Oh and it happens to be on the market for $19,500,000…here’s a photo and the description:

“Extraordinarily private compound on 14+ rolling acres with views of Atlantic, Sankaty Light, Sesachacha Pond and Moors.  Large pool, hot tub, cabana with fireplace, and a tennis court.  Spectacular new construction with every imaginable amenity and plenty of room for guest house, barn, riding trails, etc.”

Within the last two years, the Nantucket Lightship (yes the restored boat that was docked in the harbor) was able to be rented…for a cool $150,000/wk…

written by Courtney Ronan for RealtyTimes, 5/3/1999…here’s a look back…

Nantucket Island, once among the world’s great whaling ports, is a special place 30 miles off the coast of Cape Cod, Massachusetts. Big sister Martha’s Vineyard often gets more publicity (in large part due to the First Family’s frequent vacations here), but Nantucket offers just as much appeal. Visitors arrive here either usually by a flight into Boston and then a commuter plane to the island; or by a ferry from Hyannis. The month of May is on the horizon, and it’s precisely the time when the crowds begin to descend upon this tiny island. While Nantucket maintains many year-round residents, its population swells during the summer months, and the seasonal real estate market is extremely active here. Although Nantucket offers a diverse inventory of residential real estate, if you’re financially well-endowed, you’ll have a bigger selection of homes from which to choose. Nantucket’s cost of living is higher than average, and some of its homes are truly spectacular. In fact, Christie’s Great Estates offers several extravagant properties on the island.

(more…)

In his classic, Moby Dick, Herman Melville wrote, “Nantucket! Take out your map and look at it. See what a real corner of the world it occupies; how it stands there, away off shore . . . ” More than 100 years later, this tiny island, 30 miles off the coast of Cape Cod, still counts its isolation as a defining characteristic. At only 3 1/2 by 14 miles in size, Nantucket is smaller and more insular than Martha’s Vineyard. But charm-wise, Nantucket stands alone — 21st-century luxury and amenities wrapped in an elegant 19th-century package.

The island has long appealed to wealthy visitors, (more…)

by Brian-Logan Reid, Broker

When a home owner or potential buyer of residential real estate on Nantucket chooses to rent out their property, there are three main types of income that can be derived.  I’ve found it useful for my customers/clients to understand the different types of income and the differences between the three:

1.  Weekly vacation rentals:  Seeking to capitalize on the strong rental market of Nantucket, many homeowners choose to rent out their properties on a weekly basis.  While this avenue of renting may yield the highest possible revenue, the risk is also the highest as weeks may not rent out and the owner must cope with less-than-expected returns.  Obviously, the owner may run the risk of sustaining more wear-and-tear than a seasonal or a year-round tenant.  The homeowner may also be able to rent the property out in the winter for additional income.  Tenants are typically (more…)

Jet Blue is coming to Nantucket — and it’s also making a deal to fly thousands more people to and from the rest of the Cape and islands .

Unveiling a pair of new services yesterday, JetBlue Airways Corp. said it will begin offering daily round-trips between New York and Nantucket from May 24 to Sept. 24. In July and August, JetBlue will add second flights on Friday nights, Saturday mornings, and Monday mornings aimed at serving New Yorkers coming up for a weekend visit. Service will be on 100-seat jets, and fares will range from $178 to $558 round-trip.  To view full article, click here…