Portnoy’s waterfront house buy set a brand new report for Nantucket and the state of Massachusetts. The property contains a essential home, visitor home and studio which can be linked by an underground tunnel.
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The founding father of sports activities media firm Barstool Sports activities, Dave Portnoy, has bought a waterfront Nantucket property for a report $42 million, The Wall Street Journal reported on Friday.
The sale marks the priciest deal to have ever been performed on the island and within the state of Massachusetts, besting the earlier report of $38.1 million, which was set in June.
The deal was performed off-market and Shellie Dunlap of Lee Actual Property represented the sellers, a pair of trusts often called MAK Daddy Belief and MAK Shack Belief, in line with information. Peter Engen of Lee Actual Property represented the customer.
The property, which was accomplished round 2018, encompasses about 1.2 acres with 180-degree Nantucket Harbor and city views with direct frontage on the harbor. An extra $2 million price of furnishings and different objects had been additionally included within the sale, The WSJ reported.
Dunlap mentioned her shoppers opted to promote now given the leverage they’d proper now with a turnkey house. “They noticed the power of the market and the second in time we’re in,” Dunlap informed The WSJ. “When there’s high quality building and a purchaser can actually stroll proper in … they’re keen to pay a premium.”
In 2016, the property’s sellers bought the adjoining parcels and demolished present houses that had been on the tons. Then they constructed a brand new property, which contains a essential residence, separate visitor quarters and a pool. The primary home was designed by Andrew Kotchen of Workshop/APD and contains a major suite with an indoor-outdoor bathe and foldaway glass doorways that confide in the harbor, Dunlap informed The WSJ.
The property’s two-bedroom guesthouse and a separate studio are linked to the principle home by an underground tunnel.
Portnoy will not be new to Nantucket actual property, though the media exec hasn’t reached such nice heights prior to now — in line with information, he beforehand bought a house on Nantucket for about $2 million.
Barstool started as a playing newspaper launched by Portnoy in 2003. The corporate now produces on-line content material, podcasts and movies. Portnoy additionally hosts a web-based present referred to as One Chunk Pizza Critiques, by which he tastes pizzas from world wide.
Portnoy offered his media firm to Penn Leisure for about $550 million in February 2023, and was capable of purchase it back for $1 in August when Penn hit pink tape with Barstool after signing a cope with ESPN.
Previous to Barstool’s acquisition by Penn, accusations of sexual misconduct surfaced about Portnoy, which he denied and to which he responded with a defamation lawsuit.
Nantucket house costs climbed steeply throughout the pandemic as demand in trip markets surged whereas provide remained restricted. Since then, value progress has calmed down a bit, nevertheless, and the median sale value of a house in Nantucket County was down 40.6 % yr over yr in August to $3.24 million, in line with Redfin.
Some big-ticket gross sales have made a splash out there within the final yr or so, nevertheless, together with enterprise capitalist Evan Jones’ and spouse Cindy Jones’ $38.1 million waterfront house sale in June (initially listed for $56 million) and one other property that offered for $36 million in 2022.
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E mail Lillian Dickerson