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On Nantucket, a 1BR Cottage Sells for $1,040,000

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This tiny Nantucket cottage with a not-so-tiny-but-very-Nantucket price tag has found a buyer after hitting the market just under a year ago. Listed in September 2012 for $1,079,000, the Dukes Road one bedroom with a sleeping loft sits on a half-acre lot just west of Town and sold on Friday for $1,040,000. At first glance, a million dollars for a compact cottage seems pricey even for the Grey Lady, but HDC approved plans for a main house come with the sale. The "thoughtful and charming" renovation of the soon-to-be guest cottage was completed by the builder/owner who is "willing to construct main house for an additional $1,400,000."

· 14 Dukes Road, Nantucket [LINK]