This 75-acre, waterfront property at 260 Polpis Road on Nantucket is being listed for $47.5 million by Great Point Properties, an exclusive affiliate of Christie’s International Real Estate.
Joe Halpern
Research Director- Boston Business Journal
The most expensive home in Massachusetts is back on the market. And this time the price has been reduced by $11.5 million.
The 75-acre, multi-dwelling property at 260 Polpis Road on Nantucket was listed today by Great Point Properties, an affiliate of Christie’s International Real Estate, for $47.5 million. The property, which was taken off the market last year with a price tag of $57 million, sits on its own peninsula and features 20 rooms and 9.5 baths in a main house and two guest houses. It also includes a gatehouse, tennis court, boathouse, barn and spectacular panoramic views of Nantucket’s Polpis Harbor on the northeast side of the island.
The home was owned by Russell Dale Phelon, former owner and president of R.E. Phelon Co, a South Carolina-based firm that manufactured ignition systems and engine electronics. Phelon, who died in March of brain cancer, sold his company to Harvey Industies LLC in 2011.
If sold, 260 Polpis Road is expected to fetch the highest price ever for a Nantucket home. According to Listing Information Network (LINK), a Boston-based company that tracks home prices, the previous record sale price for a home on the island was nearly $28 million, set in 2010.