Calling all newly minted Facebook millionaires and billionaires, the most expensive listing in New England has hit the market with a $59 million listing price. The Nantucket property is being sold by the estate of the late Russell Dale Phelon, a little-known manufacturing tycoon. Mr. Phelon purchased the vacation home in 1997 for $7.15 million, which at the time was the most expensive home sale in the history of New England.
So what does a buyer get for possibly boosting the entire state's housing market, besides bragging rights? The waterfront property, "Swain's Neck," has unobstructed 180-degree views of Polpis Harbor on almost 70-acres. The compound includes a nine bedroom main house, a guest cottage, studio, boathouse, gatehouse and fenced in pastures (for watching money graze).
· Listing: Once in a Lifetime [Sotheby's International Realty]
· Nantucket's $59 Million Listing [Forbes]
· Nantucket home on sale for $59 million [Boston Globe]