Nantucket Official Guide 2017 | Page 129

I

Real Estate

n the annals of real estate , tales of parcels purchased for a “ song ”, held in the family for generations , and ultimately sold for a staggering sum are not uncommon . These narratives are legion on Nantucket – an island coveted not only for its miles of pristine beaches – but in great part for its romantic “ otherworldliness ,” its meticulously preserved architecture , cobblestone streets , and splendid isolation 30 miles at sea . The “ Faraway Island ’ s ” diminutive size – a mere 45 square miles – and wide open spaces – also contribute to its inordinate charm . A significant portion of the island ( 47 %) is held in conservation , leaving only a finite percentage of buildable acreage . From a real estate standpoint , the allure is undeniable .
Consider the remarkable evolution of ‘ Sconset ’ s Codfish Park . In 1886 , Henry Coffin deeded it to the Proprietors of Nantucket , stipulating that no buildings – save bath houses – be erected , for the utilization of islanders only . This directive
seems to have been ignored , however , as clusters of fisherman ’ s shacks and cottages began to appear along the beach , which had tripled in width . At the turn of the century , this easternmost island outpost – with the rolling Atlantic as its stunning backdrop – became quite popular ( understandably so ) with tourists , artists and photographers , blossoming into a prime real estate venue .
In the early 20th century , Codfish Park ( considered “ down bank ,” although boasting a barber shop , fish market and beauty parlor ) was home to many ‘ Sconset working families who served as domestic staff or provided services for families in the large houses “ up bank .” Fast forward to 2016 : ramshackle fishermen ’ s cottages are but a fog-shrouded memory , and this quintessentially charming seaside haven is home to lavish summer homes . A . 20 acre parcel of vacant land is currently assessed at upwards of $ 900,000 and a 3.7 acre parcel owned by the Town is valued at $ 4 + million . And this , dear reader , is no “ fish tale !”
REAL ESTATE
Inset photo © Michael Galvin nantucketchamber . org • 127