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Nantucket Federal That Once Asked $5M Sells for $3.35M

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This Nantucket Federal first hit the market in April 2012 with a $5,000,000 asking price. Built in 1798 and renovated in 2005, the 13-room property on .11 acres had last changed hands in the frothy days of January 2006 for $4,380,000. Alas, the PriceChopper would swing by in October and slice $550K from the price tag, bringing the ask down to $4,450,000. By mid-March, the chopper returned yet again and hacked an additional $700K from the four bedroom, four and a half bath. The harbor views, gourmet kitchen, "spectacular master suite," and friendship stairs were now down to $3,750,000. Apparently, $1,250,000 off the initial ask was enough to do the trick and the listing went into contract by June, selling late last week for $3,350,000.

· Nantucket Federal Gets Chop #1, Now Asking Under $5M [Curbed Cape Cod]
· Nantucket Federal Gets Chop #2, Now Asking Under $4M [Curbed Cape Cod]
· 16 Orange Street, Nantucket [LINK]