Three weeks into the New Year, the Nantucket Real Estate Market has yet to resume the torrid pace with which it ended 2012 as no transactions have been recorded for the second straight week. With only five closed transactions on the books through January 25, 2013, Nantucket real estate is on pace for the second slowest month on record (in March 2009 there were only four transactions). Some might be surprised, and even downright worried. However, it is too early to jump to the conclusion that this sluggish pace is evidence of a new trend. After all, the rush of transactions that we saw close prior to the end of 2012 may have been transactions which would have otherwise closed in 2013, were it not for the anticipated changes in the tax code. Nonetheless, the future of the economic and even political landscape remains unclear and it is possible that some of the momentum slowdown could be attributed to buyers and sellers waiting on the sidelines to see how the dust settles before making any moves. Stay tuned to Windwalker’s weekly real estate review to see when the tide may turn…
The following is the Nantucket Real Estate weekin review for the week of January 19th, 2013 – January 25th, 2013:
“Norwood Farm”, owned by the Jensen family, is a 207-acre, undeveloped, stunning parcel of land located in the Middle Moors adjacent to Altar Rock on Nantucket. Until today, this sprawling expanse of land represented the largest, unprotected, privately owned parcel on Nantucket Island.
Overview of "Norwood Farm" Historic Purchase
Represented by Alan Worden and Jennifer Shalley of Windwalker Real Estate, the Nantucket Conservation Foundation, has successfully acquired the property for $19 million. The Nantucket Islands Land Bank will join NCF on this historic purchase. This hallmark transaction will preserve forever the exceptional 360 degree panoramic vistas from Altar Rock while offering the Nantucket community the ability to explore and enjoy low-impact recreational activities on site in the future.
Residential/Commercial building conveniently located in the heart of Town, Nantucket’s bustling commercial district and adjacent to downtown restaurants, shops and ferry docks. First floor permitted for retail or office space; a one bedroom apartment occupies the second and third floor and a separate one bedroom guest cottage to the rear of the property completes the package. Exclusively listed by Judy Waters, Windwalker Real Estate
Windwalker Real Estate is pleased to announce the sale of 1.84 acres of land on Hummock Pond Road in Cisco to the Nantucket Islands Land Bank. Several months ago, Broker, Jim Houghton of Windwalker Real Estate was asked to assist a friend of a friend in selling a piece of property which is the home of Francis Pease.
The Pease property, once part of the historic Gardner Farm, abuts agricultural land owned by the Nantucket Islands Land Bank, and has graciously served as the home to the Nantucket Community Garden for over 20 years. In analyzing the possibilities for the property, it was apparent to Houghton that the Land Bank would be the logical buyer. In addition to the Land Bank’s predisposition to acquire tracts of land that are contiguous with already preserved open space, Houghton felt that the mission of the Land Bank to preserve for the public benefit open spaces that provide both passive and active recreation for the community meant that the Pease property was precisely the type of property the organization should be interested in acquiring.
Houghton approached The Nantucket Islands Land Bank and brokered the sale that will help to continue and expand the Nantucket Community Garden as well as give Mr. Pease a life right in his home that he has enjoyed for the last two decades .
This is just another example of Windwalker’s commitment to helping preserve open space on Nantucket Island. For example, in May of this year, Windwalker represented the ‘Sconset Trust and acted as an advisor for the Nantucket Islands Land Bank in their purchase of the much sought-after Coffin land in Sconset. This “milestone” transaction consisting of 119 acres of land, including the Sconset Golf Course (“Skinner’s”), was one of the largest land transfers in Nantucket history. Both for its scale and importance to the Nantucket community, this is one of the most significant real estate transactions on Nantucket. With over 50% of Nantucket Island being held in land conservation, Windwalker Real Estate remains committed to assisting island conservation groups in acquiring and preserving open space and is pleased to have been a significant participant in land use preservation in 2012.
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