Waterfront Nantucket estate sells for state record $38M

A tiny island generated a massive sale in Massachusetts.

A waterfront compound located in Monomoy on Nantucket sold for $38.1 million, making it the highest price paid for a single residential property in Massachusetts, the Wall Street Journal reported.

The sellers of the property are venture capitalist Evan Jones and his wife, Cindy Jones, a wildlife photographer, the Wall Street Journal reported.

They purchased the estate in 2006 for $16 million and listed it last year for $56 million, with a final asking price of $48 million. 

The unnamed buyers, represented by Dalton Frazier of J Pepper Frazier Real Estate, intend to keep the property for generations, according to the outlet.

Situated in the Monomoy area, the 3.5-acre estate boasts 500 feet of waterfront along Nantucket Harbor. The 11,000-square-foot main residence features four bedrooms, a billiards room, sauna, and multiple bars. 

Additionally, there are two separate guest homes, including a four-bedroom house dating back to the early 1900s. 

The Joneses, who own homes in Hawaii and Wyoming, used the Nantucket property as a vacation home. Evan Jones is the founder of jVen Capital, a life sciences investment management firm, and was also involved in the creation of healthcare technology company Digene Corporation, which was acquired by Dutch genetic testing company Qiagen.

Shelly Tretter Lynch and Marybeth Gilmartin-Baugher of Compass had the listing. 

The sale surpasses the previous record of a $36 million waterfront property sale in Nantucket in 2022, as well as the $35 million sale of a penthouse at Millennium Tower in Boston in 2016, the Journal reported.

While Nantucket’s housing market has experienced a slight softening this year, along with other affluent areas, the island has still witnessed notable high-end transactions. In May, the average sale price in Nantucket was $3.39 million, representing a 4.4 percent decrease compared to the previous year. 

The island boasts myriad famous residents, including Boston Red Sox owner John Henry, who bought a waterfront estate last year. 

— Ted Glanzer