|
PROPERTY TRANSFERS
Aug. 27, 2007 - Aug. 31, 2007
1. Vacant lots on 4.2 and 7.7 acres at 135 and 137 Eel Point Road, respectively, sold to Nantucket Lot 51, LLC, of Boston, Mass. from Samuel Sichko, Eric Frost and George Frost, Trustees, Calm Water Trust, of Nantucket, Mass. for $26,500,000. The properties are assessed at $8,106,400 and $11,348,500, respectively. The land bank fee is $530,000.
2. A house on 2.3 acres at 200 Cliff Road sold to Alison and William Roberts of New York City, N.Y. from Peter and Kristine Glazer of New Canaan, Conn. for $7,200,000. The property is assessed at $3,173,200. The land bank fee is $144,000.
3. A house on 1.09 acres at 22 Brant Point Road sold to Robert A. Dobies and Maureen Dobies of New York City, N.Y. from John Loughborough and Kerryanne Loughborough of Wellesley, Mass. for $4,495,000. The property is assessed at $3,711,800.
4. A house on .22 of an acre at 8 King's Way sold to James D. Carey and Robin Carey of Nantucket, Mass. from River Light 4, LLC, of Wayne, Pa. for $3,300,000. The property is assessed at $2,181,000. The land bank fee is $66,000.  | | 1 |
|
5. A house at 5 Dolphin Court sold to Anthony J. Brookhouse, Denise H. Brookhouse, Dirk Koopman and Susan Koopman of Whitinsville, Mass. from Dolphin Court Realty Trust of Thomasville, Ga. for $2,100,000. The property's assessed value is unavailable. The land bank fee is $42,000.
6. Vacant land on 2.9 of an acre at 2 Salti Way sold to William H. Frist, Trustee of Two Salti Way Nominee Trust of Nashville, Tenn. from Brian T. Weinhart and Marie Mathiesen, Trustees of Salti Land Trust of Denmark for $1,700,000. The property is assessed at $1,574,800. The land bank fee is $34,000.
7. A cooperative at 19A Daffodil Lane sold to Kathryn L. Glidden of Nantucket, Mass. from The 19 Daffodil Lane Cooperative of Nantucket, Mass. for $842,000. The property's assessed value is unavailable. The land bank fee is $16,840.
8. Acooperative at 19A Daffodil Lane sold to Kirk F. Riden and Carrie M. Riden of Nantucket, Mass. from The 19 Daffodil Lane Cooperative of Nantucket, Mass. for $842,000. The property's assessed value is unavailable. The land bank fee is  | | 2 |
|
9. A house on 1.0 acre at 8 Bassett Road sold to William Voss of Nantucket, Mass. from Lucan Quaise Property Nominee Trust of Nantucket, Mass. for $750,000. The property is assessed at $1,534,400. The land bank fee is $15,000.
10. Ahouse on .48 of an acre at 13 Midland Ave. sold to Walter J. Lee and Karen S. Lee, Trustees of 13 Midland Avenue Realty Trust of Westborough, Mass. from Walter J. Lee of Westborough, Mass. for $10. The property is assessed at $967,900. The land bank exemption D.
11. Real estate on .55 of an acre at 26 Naushon Way sold
to The Hamblin Family Trust, Gary S. and Roberta G. Hamblin, Trustees, of Nantucket, Mass. from Gary S. Hamblin and Roberta G. Hamblin of Nantucket, Mass. for $1. The property is assessed at $1,137,500. The land bank exemption is D.
12. A house on 1.8 acres at 18 Gloucester St. sold to John Bouchard and Joelle T. Bouchard of Nantucket, Mass. from Joelle T. Hess (n/k/a Joelle T Bouchard) of Nantucket, Mass. for $0. The property is assessed at $1,372,200. The land bank exemption is C.  | | 3 |
|
13. Ahouse on 3.3 acres at 275 Polpis Road sold to William S. Brenzier and Margaret L. Brenzier, Trustees of CBM Polpis Trust of Glen Head, N.Y. from William S. Brenzier and Margaret Loughead Brenzier of Glen Head, N.Y. for $0. The property is assessed at $2,304,000. The land bank exemption is D.
14. Ahouse on .34 and .23 of an acre at 8 and 10 Lewis Court sold to FS Holdgate Nantucket, LLC, of Nantucket, Mass. from Irvin F. Holdgate, Jr. of Nantucket, Mass. for $0. The properties are assessed at $718,200 and $664,800, respectively. The land bank exemption is D.
The Nantucket Islands Land Bank gained $946,800 in transfer tax fees for the week ending Sept. 1. For 2007, the Land Bank gained an estimatedtotal of $9,737,383.48 in transfer fees. Land bank income is derived mostly from the collection of a two-percent 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.  | | 4 |
|
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 first-time property buyers (applies to the first $400,000).
 | | 5 |
|
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.
 | | 6 |
|
|
|
)
)
)
)
)
)
)
)