PROPERTY TRANSFERS
Sept. 24, 2007 ~ Sept. 28, 2007
1. A house on 3 acres at 39 Eel Point Road sold to EPR, LLC, of Woburn, Mass. from Patricia A. Halsted, Trustee, Thirty-Nine Eel Point Road Trust of Nantucket, Mass. for $10,700,000. The property is assessed at $7,187,400. The land bank fee is $214,000.

2. A vacant lot on 11 acres at 19 Squam Road sold to Arthur I. Reade, Jr., Trustee of Nineteen Squam Road Realty Trust of Nantucket, Mass. from Nason Nanco, Inc. of Falls Village, Conn. for $8,500,000. The property is assessed at $11,872,900. The land bank fee is $170,000.

3. A house on 4.1 acres at 209 and 209R Polpis Road sold to Insight Polpis, LLC, of Newton, Mass. from Charles Stanziale, Jr., Chapter 7 Trustee for Student Finance Corporation of Newark, N.J. for $4,510,000. The property is assessed at $5,025,700. The land bank fee is $90,220.

4. A house on .13 of an acre at 17 Gardner St. sold to Lisa Quattrocchi, Trustee, of New York City, N.Y. from Kenneth Olsen and Ursula Olsen of Pound Ridge, N.Y. for $3,350,000. The property is assessed at $2,759,000. The land bank fee is $67,000.

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5. A vacant lot, Lot 14 on 1.1 acres on Black Fish Lane sold Sarah F. Alger, as Trustee of Black Fish Nominee Trust of Nantucket, Mass. from John A. Keane, as Trustee of Burnell Street Nominee Trust of Nantucket, Mass. for $3,000,000. The property's assessed value is unavailable. The land bank fee is $60,000.

6. A house on .08 of an acre at 4 Mulberry St. sold to Norman V. Lewis of Louisville, Ky. from Susan M. Deutsch of Boston, Mass. for $2,850,000. The property is assessed at $2,245,700. The land bank fee is $57,000.

7. Ahouse on .31 of an acre at 8 Lily St. sold to Lily Street, LLC, of Alexandria, Va. from

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Faraway Properties, LP, of Nantucket, Mass. for $2,850,000. The property is assessed at $2,960,000. The land bank fee is $57,000.

8. A house on .13 of an acre at 5 Magnolia Ave. sold to Michael F. Oates and Karen F. Oates, Trustees of Oates Nantucket Nominee Trust of Brookline, Mass. from Julie M. Donahue of Andover, Mass. for $2,831,500. The property is assessed at $1,979,400. The land bank fee is $56,630.

9. A house on .24 of an acre at 96 Baxter Road sold to Alexander Webb, II and Laura R. Webb of Boston, Mass. from Valeria P. Hodges and Valeria C. Shatzel, Trustees, of Falmouth, Mass. for $2,337,500. The property is assessed at $3,339,500. The land bank fee is $46,750.

10. A house on 1.03 acres at 21 Pilgrim Road sold to Heath Family, LLC, of Nantucket, Mass. from Susan B. Heath of Pound Ridge, N.Y. for $2,330,000. The property is assessed at $1,605,500. The land bank fee is $46,600.

11. A house on .15 of an acre at 22 Woodbury Lane sold to John Ferm and Jennifer Ferm of Rowayton, Conn. from E. Bloxom Baker and Patricia A. Halsted, Trustees of Twenty-Two Woodbury Lane Nominee Trust of Wakefield,

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Conn. for $2,280,000. The property is assessed at $2,061,200. The land bank fee is $45,600.

12. A condominium at 5C Stone Barn Inn, Unit 12, sold to John McCown of Nantucket, Mass. from Gregory T. Tadduni and Mary Elizabeth D. Tadduni of St. Davids, Pa. for $2,232,000. The property's assessed value is unavailable. The land bank fee is $44,640.

13. A house on .10 of an acre at 36 Monomoy Road sold to Richard J. Glidden, Trustee of Nantucket- Monomoy Heights Realty Trust of Nantucket, Mass. from Phillip Harrison Snead, Jr. of Sausalito, Calif. for $1,875,000. The property is assessed at $1,781,400. The land bank fee is $37,500.

14. Ahouse on .12 of an acre at 22 Killdeer Lane sold to Jon Smestad and Karl Angen Smestad of Norwell, Mass. from Laura Tittman Martin and Keith A. Martin of McLean, Va. for $1,200,000. The property is assessed at $1,192,200. The land bank fee is $24,000.

15. Ahouse on .23 of an acre at 2 Huntington St. sold to Michael R. Kizilbash and Nancy K. Duboc of New York City, N.Y. from Mark J. Cutone and Lynda A. Cutone of Siasconset, Mass. for $1,050,000. The property is assessed at $896,300. The land bank fee is $21,000.

16. A house on .34 of an acre at 11 Roberts Lane sold to Todd D. Arnow and Elizabeth Kirby of Carlisle, Mass. from Michael C., James W. and Anna Lynette Pattison of Nantucket, Mass. for $825,000. The property is assessed at $777,000. The land bank fee is $16,500.

17. Ahouse, Unit 1 at 1 Equator Drive sold to Jacob Joseph Pickman of Nantucket, Mass.

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from Neill G. Nelson, Trustee of Katherine Carter Nelson Revocable Trust of Glen Allen, Pa. for $701,000. The property's assessed value is unavailable. The land bank fee is $6,020 and the exemption is M.

18. A house on .11 of an acre at 35 Massachusetts Ave. sold to Theodore Goodnow and Kim Goodnow of Princeton, Mass. from Carol M. Lane of Troy, N.Y. for $620,000. The property is assessed at $1,583,800. The land bank fee is $12,400.

19. A house, Unit 2 of the 5B Pine Tree Road Condominium sold to Lisa Toney and Burton C. Toney of Nantucket, Mass. from Roger Caruso of Nantucket, Mass. for $585,000. The property's assessed value is unavailable. The land bank fee is $3,700 and the exemption is M.

20. A condominium at 10B Thirty Acres Lane sold to Gordon Fraser and Kate Merlini Fraser of Nantucket, Mass. from H. Flint Ranney and Charron P. Ranney, Trustee of Tigertail Realty Trust of Nantucket, Mass. for $499,000. The property's assessed value is unavailable. The land bank fee is $1,980 and the exemption is M.

21. A house on .13 of an acre at 2 Thurston's Way sold to Dennis D. Sullivan of Wellesley, Mass. from DJK Management, LLC, of Wellesley, Mass. for $10. The property is assessed at $408,000. The land bank exemption is J.

22. A house on .15 of an acre at 1 Brock's Court sold to Murat Aslansan and Kaan Aslansan of Philadelphia, Pa. sold from Murat Aslansan of Philadelphia, Pa. for $1. The property is assessed at $1,805,000. The land bank exemption is C.

23. A house, Unit 2, at 96 Orange St. sold to Annen Gardner Enterprises, LLC, of Reading, Mass. from Stephen P. Gardner and Edith A. Gardner of Reading, Mass. For $1. The property's assessed value is unavailable. The land bank exemption is I.

24. A house on .44 of an acre at 7 Tautemo Way sold to Paul A. Clarke, Trustee of the Paul A. Clarke Revocable Trust of Nantucket, Mass. from Paul A. Clarke of Nantucket, Mass. for $0. The property is assessed at $1,997,500. The land bank exemption is D.

25. A vacant lot in Pocomo on Medouie Creek sold to Samuel Aloisi of Nantucket, Mass. from J. Curtis Glidden, Joanne D. Angelastro, Donna Baigelman, Eric M. Glidden and Peter J. Glidden of Nantucket, Mass. for $0. The property's assessed value is unavailable. The land bank exemption is C.

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26. A business on 1.2 acres at 77 Easton St. sold to Robert V. Matthews and Blake Management Corp. of Nantucket, Mass. from NHM Realty, LLC, of Nantucket, Mass. for $0. The property is assessed at $3,791,600. The land bank exemption is J.

27. A business on 1.2 acres at 77 Easton St. sold to PB Realty Holdings, LLC, sold from Robert V. Matthews and Blake Management Corp. of Nantucket, Mass. for $0. The property is assessed at $3,791,600. The land bank exemption is I.

The Nantucket Islands Land Bank gained $1,078,540 in transfer tax fees for the week ending Sept. 29. For 2007, the Land Bank gained an estimated total of $11,931,057.48 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.

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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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