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PROPERTY TRANSFERS
2. Ahouse on 3.04 acres at 3 Wingspread Lane sold to Jessica Hopfield of Chicago, Ill. from Robert J. Brudno and Sheila B. Brudno of Bethesda, Md. for $4,950,000. The property is assessed at $5,982,100. The land bank fee is $99,000. 3. A house on .23 of an acre at 6 Woodbury Lane sold to Lisa Ramos and Andrew Ramos of Miami, Fla. from Whitney A. Gifford, Trustee, Mayberry Nominee Trust, of Newtown, Pa. for $2,775,000. The property is assessed at $2,477,100. The land bank fee is $55,500. 4. A house on .20 of an acre at 7 East Lincoln Ave. sold to Jeffrey L. Heller and Carol E. Heller of Mendham, N.J. from Bruce B. Bates of Rochester, N.Y. for $2,195,000. The property is assessed at $1,425,600. The land bank fee is $43,900. 5. A house on .09 of an acre at 1 East Lincoln Ave. sold to One East Lincoln, LLC, of New York City, N.Y. from Jeffrey L. Heller and Carol E. Heller of Mendham, N.J. for $2,005,000. The property is assessed at $1,310,400. The land bank fee is $40,100.
7. A house on .12 of an acre at 3 Franklin St. sold to Margaret R. Hoyt, Trustee of Margaret R. Hoyt Revocable Trust Agreement of Winetka, Ill. from Samuel M. Fingold of West Hartford, Conn. for $1,775,000. The property is assessed at $1,541,400. The land bank fee is $36,500. 8. A house on .12 of an acre at 50 Goldfinch Drive sold to Kurt Sylvia of Jupiter, Fla. from Deanna Klumpp of Redding, N.J. for $1,435,000. The property is assessed at $1,318,500. The land bank fee is $28,700. 9. Ahouse on .09 of an acre at 12 New Mill St. sold to John Tristram Coffin Dammin of Boston, Mass. from Edward Wayman Coffin of Owls
10. Ahouse on .11 of an acre at 25C Washington St. sold to Rhoda H. Weinman, Trustee, of Nantucket, Mass. from Erik Nelson Liljeglen of Nantucket, Mass. for $1,000,000. The property is assessed at $1,267,800. The land bank fee is $20,000. 11. Acondominium at 4B Park Circle sold to Amy L. Vaites of Nantucket, Mass. from Styles Holdings, LLC, of Miami, Fla. for $540,000. The property's assessed value is unavailable. The land bank fee is $2,800 and the exemption is M. 12. Ahouse under construction on .21 of an acre at 5 Williams St. sold to 5 Williams Street Nominee Trust of Nantucket, Mass. from Rantucket Realty Trust of Nantucket, Mass. for $500,000. The property is assessed at $545,600. The land bank fee is $10,000 and the exemption is D. 13. Ahouse on .20 of an acre at 5 Madaket Road sold to Andrew G. Lowell of Nantucket, Mass. from Ida A. Lowell of Nantucket, Mass. for $138,000. The property is assessed at $1,085,100. The land bank fee is $2,760 and the exemption is C.
15. A house on 2.8 acres at 9 Longwood Drive sold to Moscarillo Family Limited Partnership of Potomac, Md. from Mark Moscarillo of Potomac, Md. for $1. The property is assessed at $1,301,100. The land bank exemption is C. 16. Ahouse on 2.1 acres at 21 East Tristram Ave. sold to Carl S. Gewirz and Nancy H. Gewirz, Trustees of Tristrams Avenue Realty Trust of Bethesda, Md. from Carl S. Gewirz and Nancy H. Gewirz of Bethesda, Md. for $1. The property is assessed at $8,036,600. The land bank exemption is D. 17. Ahouse on .46 of an acre at 24 Cannonbury Lane sold to Jennifer Talbott of Knoxville, Tenn. from Robert S. Talbott of Knoxville, Tenn. The property is assessed at $2,908,500. The land bank exemption is B.
19. Ahouse on 1.06 acres at 9 Bayberry Lane sold to Randolph Norris of Nantucket, Mass. from Joann H. Norris of The Villages, Fla. for $0. The property is assessed at $1,090,400. The land bank exemption is K. 20. A vacant lot on Lot 15 at 36 Burnell St. sold to John A. Keane, Trustee of Blackfish Lane Homeowners Association Trust of Nantucket, Mass. from John A. Keane, Trustee of Burnell Street Nominee Trust of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is D. 21. Avacant lot on 2 acres on a portion of 38 Lovers Lane sold to Sara K. Johnsen McCoy of San Jose, Calif. from Sara B. Johnsen of Nantucket, Mass. for $0. The property is assessed at $1,018,100. The land bank exemption is C.
The Nantucket Islands Land Bank gained $540,220 in transfer tax fees for the week ending Sept. 15. For 2007, the Land Bank gained an estimated total of $10,700,783.48 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. 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).
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