Single Disclosed Sale Sets $2.8 Million Benchmark for Nantucket Deeds

NANTUCKET -- Seven deeds were recorded at the Nantucket County Registry of Deeds between Aug. 7 and Sept. 5, but only one carried a disclosed sale price: a $2.8 million transfer of a leasehold interest on Paupamo Way. The rest of the period's activity, including a cluster of related filings on the same street and two bank-originated sales, closed without a price entered into the public record.

MARKET OVERVIEW

Seven sales were recorded in the period. Of those, one disclosed a sale price, $2,800,000, which by default sets both the price range and the median for the disclosed data. Six of the seven deeds listed no consideration amount, a common feature of trust transfers, cooperative or leasehold conveyances, and lender-to-buyer sales. Because six of seven prices are unknown, the raw count of seven recorded deeds cannot be characterized as active or quiet relative to price trends; it can only be reported as a tally, and no historical or comparative figures were included in this dataset to judge it against.

TOP SALES

2 Paupamo Way Lease Area 196B sold Aug. 7 for $2,800,000, the period's only disclosed sale price. The seller was Nashaquisset Cooperative Inc; the buyer was Tucked Away ACK LLC. The same address, listed separately as 2 Paupamo Way Lease 196B, changed hands the same day when Andrew C. Shull, trustee, and the Paupamo Way Nominee Trust conveyed to Nashaquisset Cooperative Inc; price not disclosed. A third filing for 2 Paupamo Way, also dated Aug. 7, shows Nashaquisset Cooperative Inc and Shull as trustee conveying to the Town of Nantucket; price not disclosed. 26 Easy Street sold Aug. 7 from Hingham Institution for Savings to Notsoeasy LLC; price not disclosed. 54 Fairgrounds Road sold Aug. 7 from Bank of America N.A. to Stephen J. Butler and Karla W. Butler; price not disclosed.

NEIGHBORHOOD BREAKDOWN

Paupamo Way accounted for three of the seven deeds recorded in the period, all dated Aug. 7 and tied to the same lease area, a pattern consistent with a leasehold or cooperative ownership structure changing hands in stages. The remaining sales were spread across individual streets: Easy Street, Fairgrounds Road, and Lily Street each had one recorded deed, and one additional deed listed only a general Nantucket, MA address with no street specified. By price tier, one sale exceeded $1 million ($2,800,000, disclosed); the price tier of the other six sales cannot be determined because no consideration amount was recorded.

MARKET NOTES

Two of the seven deeds involved a bank as seller: Hingham Institution for Savings conveyed 26 Easy Street to Notsoeasy LLC, and Bank of America N.A. conveyed 54 Fairgrounds Road to Stephen J. and Karla W. Butler. Neither transaction disclosed a price. One deed, for 40 Lily Street, moved ownership from Thomas P. Lowy and Beth Lowy to Thomas Lowy as trustee of the Thomas Lowy Revocable Living Trust, an intra-family trust transfer with no price disclosed. The three Paupamo Way filings show a lease area and unit interest passing from a trustee-held nominee trust to a cooperative entity and, in a separate same-day filing, from the cooperative to the Town of Nantucket. No square footage, bedroom, or bathroom data was available for any property in this dataset, so no price-per-square-foot or property-type comparisons can be made.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.