Nantucket's real estate market saw significant activity in the first week of November, with several high-value properties changing hands. Transactions were highlighted by the sale of a historic home on Orange Street for $6.6 million and a newly constructed waterfront property on Mariner Way for $6.3 million. The Nantucket Islands Land Bank also made a substantial acquisition, purchasing a majority stake in several parcels on Boynton Lane for $5.5 million.
Key Takeaways
- A restored 1824 home at 55 Orange Street sold for $6.6 million, nearly triple its assessed value.
- A modern residence with harbor views at 4 Mariner Way was purchased for $6.3 million.
- The Nantucket Islands Land Bank acquired a 59.68% interest in properties on Boynton Lane for $5.5 million.
- The market showed broad activity, with transactions ranging from under $1 million to over $6 million.
Downtown Historic Property Leads Sales
The highest-priced sale recorded between October 30 and November 6, 2025, was for the property at 55 Orange Street, which sold for $6.6 million. The transaction from 55 Orange Street LLC to Nantucket AGS On Orange LLC included a Land Bank fee of $132,000.
The sale price represents a significant premium over the property's assessed value of $2,237,400. The home, originally built in 1824 by Captain John C. Gardner, is a four-bay antique that has been extensively restored. It features five bedrooms across four finished levels, blending historic character with modern amenities.
Sale vs. Assessment: 55 Orange Street
- Sale Price: $6,600,000
- Assessed Value: $2,237,400
- Difference: The property sold for 295% of its assessed value.
Located on a corner lot at Lyon Street, the property includes two-car off-street parking, an expansive bluestone patio with a pergola, and a flowering garden. The home's widow's walk offers sweeping views of the surrounding area.
Modern Construction with Harbor Views Fetches $6.3 Million
Close behind the top sale was the transaction for 4 Mariner Way, which sold for $6.3 million. The newly built property was sold by Doherty ACK LLC to 4 Mariner Way LLC, with a Land Bank fee of $126,000 paid on the deal.
This property's sale price was more than four times its assessed value of $1,315,800. Situated in an exclusive enclave of five homes, the residence includes a four-bedroom main house and a separate one-bedroom guest house. Its primary draw is an expansive second-floor deck that provides clear views of the harbor.
The location offers convenient access to downtown Main Street, the Great Harbor Yacht Club, and local bike paths, positioning it as a prime example of modern luxury living on the island.
Understanding the Nantucket Land Bank
The Nantucket Islands Land Bank is a land conservation program funded by a 2% fee on most real estate transactions on the island. Its mission is to acquire, hold, and manage important open spaces, natural landscapes, and agricultural lands for the use and enjoyment of the general public. Purchases made by the Land Bank are exempt from this fee.
Land Bank Expands Holdings with Strategic Purchase
The Nantucket Islands Land Bank was also a major player this week, acquiring a 59.68% interest in the properties at 17, 19, and 21 Boynton Lane for $5.5 million from Kimberly Reed. The deal, which was exempt from the Land Bank fee, covers a combined .64 acres of land currently used for residential and business purposes.
In a separate transaction, Nantucket Resource Partnership Inc. purchased a 40.22% interest in the same properties from Kimberly Reed for $1 million, indicating a complex, multi-party arrangement for the future of the parcels. The combined assessed value for these interests totals over $4.5 million.
Activity Across the Market Spectrum
Beyond the top-tier sales, the week's transactions demonstrated depth and activity across various price points and locations on the island. Several other multi-million dollar sales were recorded.
Notable Mid-Range Sales
- 1 Grove Lane: A renovated Bungalow-style home across from Lily Pond Park sold for $3,900,000. The four-bedroom house, updated in 2018, offers 2,373 square feet of living space.
- 16 Ahab Drive: Located in Hummock Pond Village, this single-level four-bedroom home sold for $3,595,000. It abuts over 40 acres of green space and is near Bartlett Farm and Cisco Brewery.
- 9 Kendrick Street: This property, featuring over two acres of land, sold for $3,550,000. The existing house has a five-bedroom septic system and second-floor ocean views, with ample room for expansion.
The market also saw activity in vacant land and condominiums. A 1.55-acre vacant lot at 17 Lyons Lane sold for $2.9 million, while a condominium at 40C Centre Street sold for $1,855,000. The lowest recorded sale was for a condominium at 3D Windy Way, which changed hands for $830,000.
Overall, the property transfers from this period reflect a robust and diverse market, with strong demand for historic homes, modern luxury properties, and land suitable for conservation or future development.
