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Nantucket mansion owner asks for a mere 725% mark-up on price

Hey, do we have a home deal for you: A $59 million mansion on Nantucket that’s on sale for a mere 725 percent more than what the owner originally paid for it in 1997.

And, btw, we also have a bridge to sell you in Brooklyn or Brookline, take your pick.

OK, seriously, granted, the owner tore down and completely rebuilt the main mansion. And, yes, it has an additional 2-bedroom guest cottage, an office building, three moorings and a tennis court. But, well, jeez, charging a record-setting price for the place?

Update: The Globe has a good photo gallery of the house. It does look pretty damn spectacular.

File under: The rich are different from the rest of us

Read other posts about: vacation and second homes

2 Responses to “Nantucket mansion owner asks for a mere 725% mark-up on price” »»

  1. Comment by Mike O | 05/07/12 at 5:34 am

    69 acres on Nantucket? Yeah, sounds about right. House is nice, but it’s all that land that’s supporting the price. Assuming 19 acres goes to land bank to get the deal done, that’s still 50 acres. A developer could build 20 $5 million houses each with 2.5 acres, and clear $100 million.

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