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New England’s Most Expensive Home up For Sale

Priced at a staggering $59 million, this massive property located on the Massachusetts island of Nantucket, and covering an area of 69 acres, it’s the most expensive luxury residence in the whole of New England. Its exquisite, sprawling location, on a peninsula that used to be known as Swain’s Neck on older maps, the property has reportedly been appointed as the Swains Neck Compound.

An additional, important feature that gives this property such a value is its situation on the Polis harbor. Sharing 3 open ocean sides, it has been described by Gary Winn, the listing agent with Maury People Sotheby’s International as “a spectacular house on an unbelievable piece of land.”

In terms of living spaces, the estate features a main house, a boathouse, two-bedroom guest cottage and an octagonal office building. There are four en-suite bedrooms inside the main residence, along with a master bedroom with fireplace and private deck, a parlor with wet bar and fireplace, a media room and an astounding atrium-like living room.

Exquisiteness is also met within the kitchen, in the form of an absolutely huge oven, a two paneled refrigerator, granite counter tops and state of the art appliances. Outside, a private beach awaits residents, a sports area with tennis court and three boat moorings, as well as, of course, waterfront. Unfortunately, it lacks a swimming pool, but the Atlantic Ocean is just a few steps away.

The residence was bought in 1997 by Russell Dale Phelon, for a mere $7.15 million, and is currently listed for a mind-boggling $59 million. That’s easily a 725% increase in value, over 15 years – call that profit! Most of us won’t get to earn this during a whole lifetime.

[Extravaganzi]

By Richie Rich

Posted 8 May 2012 6:23 am

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