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Meet Nantucket's Most Expensive Home Sale of 2014 (So Far)

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Here now, the most expensive home to sell on Nantucket in 2014. This oceanfront estate at 33 Squam Road debuted on the market in June with a hefty $22,950,000 asking price and quickly (as far as pricey pads are concerned) went into contract early last week. The warp speed sale closed yesterday for a whopping $20,900,000, no doubt delighting everyone involved in the sale, especially the seller, Bernard Chiu, the Chairman and CEO of musical instrument manufacturer First Act. As for the buyer (public records have yet to be updated), they're getting 7,271-square-feet overlooking the Atlantic Ocean with a total of 17 rooms, 7BR, 10.5BA. Not surprisingly, the four acre spread has everything you'd expect to find in a luxury compound with an eight-figure price tag: there's a main house with "breathtaking ocean views," guesthouse, separate studio, sandy pathway to the beach, and a tricked-out home theater that's worth swooning over all by itself (you can do that here). It doesn't seem likely that this will remain the island's priciest sale of the year, but only time will tell. Meanwhile, anyone concerned that Nantucket will lose its place as home to 14 of the Cape and Islands 25 most expensive listings can rest easy, a new bonkers abode with a $21,500,000 asking price hit the market last week. Phew.

· Listing: 33 Squam Road, Nantucket [LINK via Great Point Properties]