Blog - Real Estate in Nantucket

Nantucket Property Transfers Mid Aug - Mid Sept. 2010

Here are some property transfers on Nantucket over the last few weeks.  Most of these deals were put together in June, and July.  Over the next few weeks we will will be seeing a lot of closings happening from deals that were put together summer 2010.  As we get a little deeper into the data I will be doing a statistical anylsis and try and sum up the activity of real estate sales on Nantucket.  Remember you can see new listings, closed sales, properties with offers to purchase in the listings section here onNantucketRealEstateAgent.com

From 9/22/10 The Nantucket Independent 

1.   A house on 4.1 acres at 15 Cathcart Road sold to LHGS,  LLC of Danvers, Mass. from Basil H. Zirinis, Trustee of the Fifteen Cathcart Road Nominee Trust, of New York City, N.Y. for $22,000,000. The property is assessed at $20,592,800. The LandBank fee is $440,000. 

 

2. A house on .33 of an acre at 30 Easton St. sold to William J. Korman, Jr., Trustee of ACK 30 E Street Trust, of Clayton, Mo. from Anthony B. Cahill, Richard Forhan Cahill, Trustee of Richard Forhan Cahill Trust, and James Cahill of Ridgefield, Conn, San Diego, Calif. and Nantucket, Mass., respectively, for $15,000,000. The property is assessed at $9,860,600. The Land Bank fee is $300,000. 

3.  A house on .12 of an acre at 5 Fair St. sold to 5 Fair Nominee Trust of Pacific Palisades, Calif. from Randy A. Fifield, Trustee, of Los Angeles, Calif. for $5,500,000. The property is assessed at $2,994,400. The Land Bank fee is $110,000. 

4.A house on 1.7 acres at 11 Cathcart Road sold to Eleven Cathcart Road Nominee Trust, Jacqueline R. McCoy, Trustee, of Boston, Mass. from Jon Winkelreid and Abby Winkelreid of Short Hills, N.J. for $5,500,000. The property is assessed at $4,817,600. The Land Bank fee is $110,000. 

5.  A house on 1.1 acres at 22 Nonantum Ave. sold to Surfside, LLC of Lakewood, Colo. from Peter C. Gardner, Executor, of Coconut, Grove, Fla. for $3,000,000. The property is assessed at $2,229,300. The Land Bank fee is $60,000. 

6.A house on .25 of an acre at 6 Coffin St., Siasconset sold to Peter Watrous and Louise Eastman of Brooklyn, N.Y. from Joseph Henry Wright, IV and Amanda Breslin Wright of Boston, Mass. for $2,950,000. The property is assessed at $2,135,100. The Land Bank fee is $59,000. 

7. A house on 2.7 acres at 8 Crestwood Circle sold to William F. Hunter, Trustee of CHV Nominee Trust, of La Jolla, Calif. from Mark and Elizabeth Norris, Trustees of Norris Realty Trust, of Nantucket, Mass. for $2,550,000. The property is assessed at $1,986,400. The Land Bank fee is $51,000. 

8.   A house on 2.1 acres at 3 Rainbows End sold to Michael J. Bossidy and Julia K. Bossidy of New Canaan, Conn. from Patrick A. Levesque and Jodi Lynn Levesque, Trustees of Levesque Realty Trust u/d/ t dated April 27, 2009 for $2,256,250. The property is assessed at $3,692,900. The Land Bank fee is $45,125. 

9. A vacant lot on .23 of an acre at 8 Highland Ave. sold to Eight Highland Avenue Nominee Trust of Wellesley, Mass. from Nantue, Inc. of Madison, N.J. for $1,800,000. The property is assessed at $1,670,600. The Land Bank fee is $36,000. 

10.  A business on .56 of an acre at 2 North Beach St. sold to Phyllis Visco and Janet P. Murphy, Trustees of Phyljan Realty Trust, of Nantucket, Mass. from Barbara May Bowman, Glenn Shorkey Bowman, Scott Daniel Bowman and Jean E. Tanch of Salem, Mass. for $1,425,000. The property is assessed at $1,630,100. The Land Bank fee is $28,500. 

11.  A house on 1.1 acres at 26 Nonantum Ave. sold to ERF, LLC of Siasconset, Mass. from Evelyn W. Mack of Winchester, Mass. for $1,400,000. The property is assessed at $1,085,700. The Land Bank fee is $28,000. 

12.  A house on .76 of an acre at 34 Hummock Pond Road sold to Bovard Cherry Grove Farm, LLC of Dallas, Texas from Joseph A. Cebula, Jr. and Dorothy R. Cebula of Nantucket, Mass. for $1,150,000. The property is assessed at $1,306,100. The Land Bank fee is $23,000. 

13.  A house, Unit One, at 21 Friendship Lane sold to Sovereign Bank of Wyomissing, Pa. from Timothy M. Bulmer and Brooke Bulmer of Simsbury, Conn. for $587,350. The property is assessed at $643,700. The Land Bank exemption is H. 

14.  A timeshare period at 15 Swain St. sold to Anne and John Sousa of North Dartmouth, Mass. from Brant Point Courtyard Condominium Trust of Nantucket, Mass. for $2,027. The property’s assessed value is unavailable. The Land Bank fee is $40.54. 

15.   A vacant lot on 1.0 acre at 5 Chicago St. sold to Donald Bellston, Michael J. Byrne, Nancy Grellier, Stanley Jacobs and Kenneth Lindsay, Trustees of Madaket Land Trust, of Sudbury, Mass. from Irwin Grossman, Trustee of I and G Nominee Trust, of Dallas, Texas for $0. The property is assessed at $2,415,800. The Land Bank exemption is G. 

16.  Vacant lots on .17 of an acre and .17 of an acre at 17 and 19 Tashama Lane, respectively, sold to Rachel Larson-Devine of Canton, Mass. from Nancy Larson of Nantucket, Mass. for $0. The properties are assessed at $370,400 and $370,400, respectively. The Land Bank exemption is C. 

17.   A house on 1.0 acre at 39 Nobadeer Farm Road sold to Duane P. Jones, et al, Trustees of Yawkey Way Homeowners Association Trust, of Nantucket, Mass. from Duane P. Jones of Nantucket, Mass. for $0.  The property is assessed at $1,292,900.  The Land Bank exemption is C. 

18. A vacant lot on 6.7 acres at 53 Bartlett Road and 4.6 acres at 64 Somerset Road sold to EK Associates, LLC of Boston, Mass. from Finback, LLC of Boston, Mass. for $0.

The properties are assessed at $79,700 and $28,500, respectively. The Land Bank exemption is I. The Nantucket Islands Land Bank gained $1,290,665.54 in transfer tax fees for the week ending Sept. 18. To date in the year 2010, the Land Bank gained an estimated total of $6,830,221.72 in transfer fees. Land bank income is derived mostly from the collection of a two-percent transfer tax on real estate transactions, subject to certain exemptions. The Land Bank acquires, holds, and manages land for open space and recreation on Nantucket. Other revenue sources include investments, private contributions and leasing of properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road and 22 Broad St.

Many of the property transfers recorded with the Land Bank are exempt from the 2-percent transfer fee using one of 13 exemptions allowed by the Land Bank Act as follows: A, transfer to government entity; B, transfer which, without additional consideration, confirms, corrects, modifies, or supplements a previously made transfer; C, transfer made as a gift without consideration; D, certain transfers to and from a trust; E, transfer via death or bankruptcy; F, transfer made in partition of land and improvements; G, transfer to charitable organizations; H, transfer to a mortgagee in foreclosure of the mortgage; I, certain transfers made to or within a corporation or partnership; J, certain transfers out of a corporation or partnership; K, transfer due to divorce; L, transfer of property that is partially personal property and partially real property; M, certain first-time property buyers (applies to the first $400,000).

The above explanations are abbreviated because the language explaining these exemptions is too lengthy to print in this section every week. If you’re curious about a certain exemption, go to the Nantucket Islands Land Bank Web site for complete information on the exemptions and the Land Bank’s governing bylaws: www.nantucketlandbank.org.

 

From 9/15/10 The Nantucket Independent 

A house on 3.2 acres at 120 Tom Nevers Road sold to Dennis Quinn of Jupiter, Fla. from Owen B. Pickus of Westbrook, Maine for $3,550,000. The property is assessed at $3,699,300. The Land Bank fee is $71,000.

2. A house on .98 of an acre at 32 Pocomo Road sold to Whitney A. Gifford of Nantucket, Mass. from 32 Pocomo Road Realty Trust, LLC of Nantucket, Mass. for $2,660,000. The property is assessed at $1,318,500. The Land Bank fee is $53,200.

3. A house on 3.08 acres at 122 Tom Nevers Road sold to Ric Fulop and Jane Chen-Fulop of Lexington, Mass. from Susan A. Frazier of Nyack, N.Y. for $1,995,000. The property is assessed at $2,504,200. The Land Bank fee is $39,900.

4. A house on .09 of an acre at 70 Centre St. sold to Jessie M. Glidden, Trustee of 70 Centre Street Realty Trust, of Nantucket, Mass. from Kenneth McAuley and Judith Sharko of Portsmouth, N.H. for $1,000,000. The property is assessed at $1,928,600. The Land Bank fee is $20,000.

5. A house on .07 of an acre at 72 Centre St. sold to Jessie M. Glidden, Trustee of 72 Centre Street Realty Trust, of Nantucket, Mass. from Kenneth McAuley and Judith Sharko of Portsmouth, N.H. for $1,000,000. The property is assessed at $1,323,100. The Land Bank fee is $20,000.

6. A house on 3.5 acres at 10 Monohansett Road sold to Merrill Lynch Credit Corporation of Jacksonville, Fla. from Sovereign Bank of Reading, Pa. for $995,000. The property is assessed at $1,528,000. The Land Bank fee is $19,900.

7. A house on .21 of an acre at 14 Cherry St. sold to OneWest Bank, FSB of Pasadena, Calif. from OneWest Bank, FSB of Pasadena, Calif. for $492,816. The property is assessed at $746,900. The Land Bank exemption is H.

8. A dwelling unit, Unit 5, at 23 West Chester St. sold to Patrick A. Healy of Westport, Conn. from L. Marjorie Harris of Nantucket, Mass. for $475,000. The property is assessed at $765,400. The Land Bank fee is $9,500.

9. A house on .23 of an acre at 2 Cedar Circle sold to Chiles Holdings, Ltd of South Easton, Mass. from Mercedes Ramirez (foreclosure) –(Bank of America, National Association, as Successor by Merger to LaSalle National Bank, as Trustee (Foreclosing Lender) of Getzville, N.Y. for $376,000. The property is assessed at $857,300. The Land Bank fee is $7,520.

10. Timeshare interval, Time Period Week 35 in Unit A-6 at Brant Point Courtyard Condominium at 15 Swain St. sold to Robert P. Kiselyak and Teressa Kiselyak of Sag Harbor, N.Y. for $12,000. The property’s assessed value is unavailable. The Land Bank fee is $240.

11. A house on .07 of an acre at 72 Centre St. sold to Judith Sharko and Kenneth McAuley of Portsmouth, N.H. from The McAuley Nominee Trust, Judith Sharko, Trustee, of Portsmouth, N.H. for $10. The property is assessed at $1,323,100. The Land Bank exemption is C.

12. A house on .09 of an acre at 70 Centre St. sold to Judith Sharko and Kenneth McAuley of Portsmouth, N.H. from The McAuley Nominee Trust, Judith Sharko, Trustee, of Portsmouth, N.H. for $10. The property is assessed at $1,928,600. The Land Bank exemption is C.

13. A house on .46 of an acre at 1 Daffodil Lane sold to A. Eugene Palchanis and Sandra R. Palchanis, Trustees, Palchanis Realty Trust, of Nantucket, Mass. from A. Eugene Palchanis and Sandra R. Palchanis of Nantucket, Mass. for $1. The property is assessed at $1,327,600. The Land Bank exemption is D.

14. A house on .12 of an acre at 8 Beaver St. sold to Amy E. Sherburne of Mill Valley, Calif. from Amy E. Sherburne and Mark Sherburne of Mill Valley, Calif. for $1. The property is assessed at $1,202,700. The Land Bank exemption is C.

15. A house on .24 of an acre at 5 Althea’s Lane sold to Paul M. Budzynski of Nantucket, Mass. from Caitlin Wing Marcoux of Nantucket, Mass. for $0. The property is assessed at $671,300. The Land Bank exemption is C.

16. A house on 4.1 acres at 315 Polpis Road sold to WTFSB Properties Holdings Corp. of Wilmington, Del. from Kevin F. Dale, Trustee of Hollywood Farm Realty Trust, of Nantucket, Mass. for $0. The property is assessed at $2,411,300. The Land Bank exemptions are H and J.

17. Vacant lots on 3.3 acres and 2.1 acres at 97 Low Beach Road and on vacant land off Low Beach Road, respectively, sold to 97 Low Beach Road, LLC of Siasconset, Mass. from Jason Briggs a/k/a Jason R. Briggs of Siasconset, Mass. for $0. The properties are assessed at $2,223,000 and $597,300, respectively. The Land Bank exemption is I.

18. A house on .13 of an acre at 8 South Mill St. sold to Joseph Hartman and Rella Hartman of Brooklyn, N.Y. from South Mill, LLC of Nantucket, Mass. for $0. The property is assessed at $2,068,100. The Land Bank exemption is C. 

The Nantucket Islands Land Bank gained $241,260 in transfer tax fees for the week ending Sept. 11. To date in the year 2010, the Land Bank gained an estimated total of $5,539,556.18 in transfer fees. 

 

From 9/01/10 The Nantucket Independent 

1.A house on .45 of an acre at Hulbert Ave. sold to Catfer Holdings, LLC of Dover, Del. from Samuel G.H. Turner, II, Trustee of 68 Hulbert Avenue Nominee Trust, of Sarasota, Fla. for $3,400,000. The property is assessed at $3,067,700. The Land Bank fee is $68,000. 

2.A house on 2.08 acres at 21 Sankaty Head Road sold to John E. Craighead and Christina C. Craighead of Siasconset, Mass. from Walter C. Wilson of Houston, Texas for $2,800,000. The property is assessed at $5,911,000. The Land Bank fee is $56,000. 

3.A house on .15 of an acre at 7 Jackson St., sold to Kenneth A. Graham of Phoenixville, Pa. from Geraldine R. Roos, Trustee of Geraldine R. Roos Declaration of Trust c/o Ellen Regnery, Attorney/ Halle, Shaw & Pfaffenberg, PA, of North Palm Beach, Fla. for $1,400,000. The property is assessed at $1,341,100. The Land Bank fee is $28,000. 

4.A vacant lot on .44 of an acre at 13 Doc Ryder Drive sold to Samuel G.H. Turner, II, Trustee of Etcetera Nominee Trust, of Sarasota, Fla. from Robin L. Manning of Nantucket, Mass. for $672,500. The property is assessed at $779,100. The Land Bank fee is $13,450. 

5. A house on .04 of an acre at 3 Fayette St. sold to Thomas S. Ayars and Kathryn Garre-Ayars of Bethany, Conn. from Three Fayette Realty Trust of Petaluma, Calif. for $475,000. The property is assessed at $814,100. The Land Bank fee is $9,500. 

6. A house on .23 of an acre at 1 Thurston’s Way sold to Chiles Holdings, LTD ofSouth Easton, Mass. from Michael J. Otis (foreclosure) and Bank of America, National Association, as Trustee, of Marshfield, Mass. for $375,000. The property is assessed at $834,800. The Land Bank fee is $7,500. 

7. A house on .92 of an acre at 74A Old South Road sold to Ryan P. Conway of Nantucket, Mass. from John Arno and Colleen Arno, Trustees, of Cranbury, N.J. for $365,000. The property is assessed at $1,242,200. The Land Bank exemption is M. 

8. A condominium unit, Unit 6, at 133F Old South Road sold to Vladimir Strelnitski of Nantucket, Mass. from Stacy Gibbons of Nantucket, Mass. for $160,000. The property is assessed at $225,900. The Land Bank fee is $3,200. 

9.A vacant lot on .11 of an acre at 34 Nobadeer Ave. sold to Dennis W. Brush, Trustee of Cros Parantoux Trust, of Kentfield, Calif. from the Town of Nantucket of Nantucket, Mass. for $40,000. The property is assessed at $1,080,000. The Land Bank fee is $800. 

10. A vacant lot on a portion of .11 of an acre at 34 Nobadeer Ave. sold to Surfside Nantucket Partners, LP of Barrington, R.I. from the Town of Nantucket of Nantucket, Mass. for $10,000. The entire property is assessed at $1,080,000. The Land Bank fee is $200. 

11. A house on .26 of an acre at 36 West Chester St. sold to Isabel D. Houghton and Anthony J. Houghton, Trustees of the Anthony J. Houghton Trust, of Singer Island, Fla. from Anthony Houghton of Singer Island, Fla. for $1. The property is assessed at $1,384,100. The Land Bank exemptions are C and D. 

12.  A house on .18 of an acre at 28 Orange St. sold to Robert E. Torray and Anne P. Torray, Trustees of the Robert E. Torray and Anne P. Torray Revocable Trust, of Bethesda, Md. from Robert E. Torray of Bethesda, Md. for $1. The property is assessed at $4,828,200. The Land Bank exemptions are C and D. 

13.  A house on .12 of an acre at 34 King St., Siasconset sold to Michael G. Lynch of Concord, Mass. from Elizabeth H. Lynch and Michael G. Lynch of Concord, Mass. for $0. The property is assessed at $1,522,300. The Land Bank exemption is K. 

14. A house on .42 of an acre at 4 Coffin St., Siasconset sold to William S. Belichick of Foxborough, Mass. from Deborah C. Belichick of Weston, Mass. for $0. The property is assessed at $1,847,200. The Land Bank exemption is K. 

15.  A house on .41 of an acre at 38 Shell St., Siasconset sold to William S. Belichick of Foxborough, Mass. from Deborah C. Belichick of Weston, Mass. for $0. The property is assessed at $2,088,300. The Land Bank exemption is K. 

16.  A house on .42 of an acre at 4 Coffin St., Siasconset sold to Deborah C. Belichick of Weston, Mass. from William S. Belichick of Foxborough, Mass. for $0. The property is assessed at $1,847,200. The Land Bank exemption is K. 

17.  A house on 1.8 acres at 136 Miacomet Road sold to Evelyn M.L. Copeland, Trustee of the Evelyn M.L. Copeland Revocable Trust of June 4, 2010, of Vero Beach, Fla. from Evelyn Moncrieff Lindsay Copeland of Vero Beach, Fla. for $0. The property is assessed at $4,502,300. The Land Bank exemption is D.

The Nantucket Islands Land Bank gained $186,650 in transfer tax fees for the week ending Aug. 28. To date in the year 2010, the Land Bank gained an estimated total of $5,135,896.18 in transfer fees.

 

From 8/25/10 The Nantucket Independent 

A vacant lot on .46 of an acre at 27 Low Beach Road sold to Richard J. Glidden, Trustee of Siasconset Low Beach Road Realty Trust, of Nantucket, Mass. from Patricia A. Halsted, Trustee of 27 Low Beach Road Nominee Trust, of Nantucket, Mass. for $1,650,000. The property is assessed at $1,477,300. The Land Bank fee is $33,000. 

2. A vacant lot on Lots 158 and 159 off Sun Island Road sold to LCDJAP, LLC, of Nantucket, Mass. from Arrowhead Archeology Corporation of Nantucket, Mass. for $1,500,000. The property’s assessed value is unavailable. The land bank fee is $30,000. 

3. A house on .04 of an acre at 10 Still Dock sold to Vincent D. Mignosa, Trustee of the R and D Realty Trust, of Milton, Mass. from Richard A. Franco and Kim D. Franco of Nantucket, Mass. for $1,457,625. The property is assessed at $1,737,200. The Land Bank fee is $29,152.50. 

4. A house on .12 of an acre at 4 Galen Ave. sold to Matthew A. Gibbs of Boston, Mass. from Lars P. Allfather and Randi P. Allfather of Cambridge, Mass. for $1,215,000. The property is assessed at $1,514,100. The Land Bank fee is $24,300. 

5. A house on .12 of an acre on Lease Area No. 223 at 31 Autopscot Circle sold to James K. Picinich of New York City, N.Y. from Hough Family Associates Limited Partnership of New Canaan, Conn. for $775,000. The property is assessed at $1,088,900. The Land Bank fee is $15,500. 

6. A quarter interest in a house on .19 of an acre at 39 Washington St. sold to Shane Valero of Nantucket, Mass. from David D. Glowacki of Nantucket, Mass. for $20,000. The property is assessed at $1,160,100. The Land Bank fee is $400. 

7. A house on .12 of an acre at 97 Orange St. sold to Barbara F. Anderson, Trustee, Barbara F. Anderson Revocable Trust, of Norwell, Mass. from Barbara F. Anderson of Norwell, Mass. for $1. The property is as assessed at $1,844,200. The Land Bank exemption is D. 

8. A house, Unit 1, on .07 of an acre at 8 Jackson St. sold to Dolores A. Rettman of Canton, Mass. from Frances J. Haas and Dolores Rettman of Canton, Mass. for $0. The property’s assessed value is unavailable. The Land Bank exemption is C. 

9. A house, Unit 2, on .07 of an acre at 8 Jackson St. sold to Frances J. Haas of Canton, Mass. from Frances J. Haas and Dolores Rettman of Canton, Mass. for $0. The property’s assessed value is unavailable. The Land Bank exemption is C. 

10. A house on 1.1 acres at 15 Wigwam Road sold to Laura B. Martorella of New York City, N.Y. from Laura B. Martorella and Christopher H. Martorella of New York City, N.Y. for $0. The property is assessed at $2,075,200. The Land Bank exemption is C.

11.  A house on 1.2 acre at 123 Cliff Road sold to Karen N. Tell and Catherine Romer, Trustees of the Tell Family Nominee Trust, of Wilton, Conn. from Karen N. Tell and Catherine Romer, Trustees of the Karen N. Tell Family Revocable Trust dated, May 25, 1994 of Wilton, Conn. for $0. The property is assessed at $938,100. The LandBank exemptions are C and D. 

12.  A house on .07 of an acre at 38 Pine St. sold to James L. Pomeranz and Dian M. Pomeranz of West Simsbury, Conn. from Dian M. Pomeranz of West Simsbury, Conn. for $0. The property is assessed at $1,808,000. The Land Bank exemption is C. 

 

The Nantucket Islands Land Bank gained $132,352.50 in transfer tax fees for the week ending Aug. 21. To date in the year 2010, the Land Bank gained an estimated total of $4,949,246.1.8 in transfer fees. Land bank income is derived mostly from the collection of a two-percent transfer tax on real estate transactions, subject to certain exemptions. The land bank acquires, holds, and manages land for open space and recreation on Nantucket. Other revenue sources include investments, private contributions, leasing of properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road, and 22 Broad St.