Another summer, another season for Martha's Vineyard old timers to complain about the gargantuan structures being built next door and the sky-high prices of real estate on the once-quaint island. And while old salts do love to complain, they may just have a point. It is next to impossible to find a waterfront home in Edgartown for less than eight figures and even vacant land commands ridiculous prices. This 266-acre waterfront plot is large enough to fit a personal palace to rival Ira Rennert's modest, 66,000-square-foot getaway on Long Island, but the cost of privacy and umpteen NIMBY complaints is an astronomical $92M. According to Forbes, that's the highest price ever attempted for a Vineyard property and unsurprisingly the sellers are reportedly going after deep-pocketed foreign buyers. You know, the same ones who might be eyeing up that $100M NYC penthouse listed on Friday.
Located in the charming hamlet of West Tisbury, the compound is actually five separate lots that have been brought to market together. The combination includes 1,100 feet of waterfront and exclusive access to Big Homer's Pond. The current owner, "tennis enthusiast" Gerald DeBlois, purchased the property in the early 1990s, and lives on a 50-acre plot nearby. It must be pretty nice when your surplus land stands to net you an eight-figure profit.
· Martha's Vineyard Compound Hits The Market Asking $92M! [Curbed Cape Cod]
· Super-sized houses are the talk of towns. [Vineyard Gazette]
· A Modest Three-Bed on Edgartown Harbor? That'll Be $11M [Curbed National]
· A Modest Three-Bed on Edgartown Harbor? That'll Be $11M [Curbed Hamptons]
· Martha's Vineyard Compound Comes To Market Asking $92 Million [Forbes]