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PROPERTY TRANSFERS
Aug. 13, 2007 - Aug. 17, 2007
1. A house on 1.3 acres at 29 Brewster Road sold to Brian O'Callaghan and Suzanne O'Callaghan of Katonah, N.Y. from James A. Fuller of Needham, Mass. for $5,800,000. The property is assessed at $2,682,200. The land bank fee is $116,000.
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2. A house on .12 of an acre at 1 Judith Chase Lane sold to William A. Holodnak and Marjorie E. Holodnak of Wellesley, Mass. from Judith Chase Nantucket, LLC, of Boston, Mass. for $4,115,000. The property is assessed at $1,647,700. The land bank fee is $82,300. 3. A house on .05 of an acre at 54 Fair St. sold to Fifty Four Fair Nantucket, LLC, of Boston, Mass. from William A. Holodnak and Marjorie E. Holodnak of Wellesley, Mass. for $2,250,000. The property is assessed at $1,850,000. The land bank fee is $45,000.
4. A house on .18 of an acre at 125 Orange St. sold to Paul Piccirillo of Acton, Mass. from Travis Randle of New Boston, Mass. for $1,136,000. The property is assessed at $1,153,900. The land bank fee is $22,720. 5. A vacant lot on .37 of an acre at 45 Ridge Lane sold to Stephen B. McDonough and Brenda R. McDonough of Nantucket, Mass. from Alan F. Atwood of Nantucket, Mass. for $1,025,000. The property is assessed at $718,000. The land bank fee is $20,500.
6. A house on .21 of an acre at 14 Cherry St. sold to Douglas R. Foregger of Nantucket, Mass. from Victoria Johnson of New Canaan, Conn. for $775,000. The property is assessed at $747,900. The land bank fee is $15,500.
7. A house on .23 of an acre at 29 Appleton Road sold to Edward M. Hussey of Brookline, Mass. from Karen D. Reid of Nantucket, Mass. for $680,000. The property is assessed at $768,800. The land bank fee is $13,600. 8. A condominium at 21B Park Circle sold to Karen D. Reid of Nantucket, Mass. from David Tolmie Holcomb, Trustee of Scully Family Trust of Gulf Port, Fla. for $535,000. The property's assessed value is unavailable. The land bank fee is $10,700.
9. A condominium at 5A Park Circle sold to William Jamee Bartleman and Kate E. Bartleman of Nantucket, Mass. from Donna A. Senatore of Lincoln Park, N.J. for $499,000. The property's assessed value is unavailable. The land bank fee is $1,980 and the exemption is M.
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10. A condominium, Unit 2, at 82 Somerset Road sold to Gerard and Bess Clarke of Nantucket, Mass. from Catherine Conte, Trustee, the Conte Family Trust, of Nantucket, Mass. for $429,778.60. The property's assessed value is unavailable. The land bank fee is $565.57 and the exemption is M.
11. An office and garage at 41A Old South Road, Unit 1, and 37I Old South Road, Unit 20 at Anchor Village Condominium, sold to Stonecold, LLC, of New Bedford, Mass. from Stephen Silverio of Siasconset, Mass. for $375,000. The property's assessed value is unavailable. The land bank fee is $7,500.
12. A house on .93 of an acre at 3 New Hummock Circle sold to Shellie L. Dunlap, Trustee of the Dunlap Family Trust of Hyannis, Mass. from Shellie L. Dunlap and Daniel P. Dunlap of Hyannis, Mass. for $1. The property is assessed at $1,870,900. The land bank exemption is D.
13. A house on .25 of an acre at 5 East Creek Road sold to Emanuel J. Johnson of Richmond, Calif. from Emanuel J. and Sandra J. Johnson of Richmond, Calif. for $1. The property's assessed value is unavailable. The land bank exemption is C.
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14. A house on 1.1 acres at 50 Squam Road sold to Robert I. Stock, Trustee of ABC Nominee Trust of Newton, Mass. from Robert I. Stock of Newton, Mass. for $1. The property is assessed at $2,999,000. The land bank exemption is D.
15. A house on .09 of an acre at 8 Derrymore Road sold to Hungry Whale Guest House, LLC, of Nantucket, Mass. from Mary Ellen Sullivan (formerly Mary Ellen Yost) of Nantucket, Mass. for $1. The property is assessed at $1,075,000. The land bank exemption is C.
16. A house on 2.3 acres at 9 Maxey Pond Road sold to 9 Maxey Pond Realty Trust, LLC, of Nantucket, Mass. from David P. Hall, of Nantucket, Mass. for $1. The property is assessed at $3,462,900. The land bank exemption is I.
17. A house on .30 of an acre at 9 Meadow Lane sold to Samuel Swaze, Jr. of Nantucket, Mass. from Teddys Realty Trust of Nantucket, Mass. for $0. The property is assessed at $1,179,200. The land bank exemption is D.
18. A house on 2.3 acres at 65 Nobadeer Ave. sold to Adele Wick of Greenland, N.H. from Clinton F. Miller, II, of Rye, N.H. for $0. The property is assessed at $2,860,700. The land bank exemption is K.
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19. A timeshare period, Interval 15 on a portion of 67 Starbuck Road sold to Jeffrey C. Allard of Wilbraham, Mass. from Alice Ferrier Allard of North Smithfield, R.I. for $0. The property's assessed value is unavailable. The land bank exemption is C.
20. Ahouse on .24 of an acre at 1 Sconset Ave. sold to Patricia Santos, Thomas J. Santos, William F. Santos and Kathleen Santos of Nantucket, Mass. from Arthur I. Reade, Jr., Trustee of Joan M. Santos Revocable Trust of Nantucket, Mass. for $0. The property is assessed at $1,053,100. The land bank exemption is D.
21. A house on .10 of an acre at 50 Orange St. sold to A. Charles Walters, Jr. and Nancy L. Thayer of Nantucket, Mass. from A. Charles Walters, Jr. and Nancy L. Thayer of Nantucket, Mass. for $0. The property is assessed at $2,320,000. The land bank exemption is C.
22. A house on .26 of an acre at 6 Sparks Ave. sold to Jose Partida/Gloria Maravilla Partida of Nantucket, Mass. from Gloria Maravilla Partida of Nantucket, Mass. for $0. The property is assessed at $802,300. The land bank exemption is C.
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23. Ahouse on 1.8 acres at 130 Miacomet Ave. sold to Edward A. Whitehouse and Sarah R. Whitehouse of Ringoes, N.J. from Edward A. Whitehouse and Sarah R. Whitehouse of Ringoes, N.J. for $0. The property is assessed at $3,135,500. The land bank exemption is B.
24. A house at 3AWinn St. sold to Gravello, LLC, of Norwell, Mass. from Bruce H. Poor of Southfield, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is E.
25. A house on .96 of an acre at 9 Bayberry Lane sold to Louise MacDougall, Trustee of MacDougall Nominee Trust of Santa Barbara, Calif. from Louise MacDougall, Trustee of MacDougall Living Trust of Santa Barbara, Calif. for $0. The property is assessed at $1,018,100. The land bank exemption is D.
The Nantucket Islands Land Bank gained $336,365.57 in transfer tax fees for the week ending Aug 18. For 2007, the Land Bank gained an estimated total of $8,511,413.48 in transfer fees. Land bank income is derived mostly from the collection of a twopercent transfer tax on real estate transactions, subject to certain exemptions. The land bank acquires, holds, and manages land for open space and recreation on Nantucket. Other revenue sources include investments, private contributions, leasing of the Lily Pond Cottage at 15 North Liberty St., and properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road, and 22 Broad St.
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NOTES ON EXEMPTIONS Many of the property transfers recorded with the Land Bank are exempt from the 2-percent transfer fee using one of 13 exemptions allowed by the Land Bank Act as follows: A: transfer to government entity. B: transfer which, without additional consideration, confirms, corrects, modifies, or supplements a previously made transfer. C: transfer made as a gift without consideration. D: certain transfers to and from a trust. E: transfer via death or bankruptcy. F: transfer made in partition of land and improvements. G: transfer to charitable organizations. H: transfer to a mortgagee in foreclosure of the mortgage. I: certain transfers made to or within a corporation or partnership. J: certain transfers out of a corporation or partnership. K: transfer due to divorce. L: transfer of property that is partially personal property and partially real property. M: certain firsttime property buyers (applies to the first $400,000).
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The above explanations are abbreviated because the language explaining these exemptions is too lengthy to print in this section every week. If you're curious about a certain exemption, go to the Nantucket Islands Land Bank Web site for complete information on the exemptions and the land bank's governing bylaws: http://www.nantucketlandbank.org. Or visit the
office at 22 Broad St. I
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