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PROPERTY TRANSFERS
Oct. 1, 2007 ~ Oct. 5, 2007
1. A vacant lot and a business at 18 Easy St. and 17 South Water St. on .14 of an acre and .15 of an acre, respectively, sold to the Nantucket Dreamland Foundation of Boston, Mass. from Dreamland Theater ZMG, LLC of Allston, Mass. for $9,800,000. The properties are assessed at $1,960,300 and $3,840,500, respectively. The land bank fee is $196,000. 2. A house on .46 of an acre at 62 Hulbert Ave. sold to Sixty-Two Hulbert Avenue, LLC, of Nantucket, Mass. from Whitney A. Gifford, Trustee, of Nantucket, Mass. for $9,500,000. The property is assessed at $5,210,400. The land bank fee is $190,000. 3. A house on 3.7 acres at 17 Ipswich St. sold to John V. Madison and Diane L. Madison of Chicago, Ill. from Ronald J. Fesko, Jr. of Nantucket, Mass. for $2,500,000. The property is assessed at $2,581,600. The land bank fee is $50,000. 4. A house on .48 of an acre at 4 Plainfield Road sold to John J. O'Toole and Susanne B. O'Toole of Mid-Levels, Hong Kong, China from Joan Lupardo of Woodcliff Lake, N.J. for $1,850,000. The property is assessed at $1,635,200. The land bank fee is $37,000. 5. A house on .15 of an acre at 39A Milk St. sold to Ronald J. Bocage and Myrna D. Bocage of Boston, Mass. from Samuel Bailey, Jr. and Janet G. Bailey, Trustees of Mill Street Realty Trust, of Farmington, Conn. for $1,800,000. The property is assessed at $1,831,400. The land bank fee is $36,000. 6. Ahouse on .12 of an acre at 16 New Mill St. sold to New Mill, LLC, of Boston, Mass. from Nancy L. Kaye of Boca Raton, Fla. for $1,690,000. The property is assessed at $1,689,500. The land bank fee is $33,800. 7. A house on .30 of an acre 114 Baxter Road sold to Rick Hinchey, Trustee, of Nantucket, Mass. from Charles D. Darby and Judith A. Darby of Siasconset, Mass. for $1,400,000. The property is assessed at $1,965,800. The land bank fee is $28,000. 8. A house on .12 of an acre at 16 Pilgrim Road sold to Mary B. Valentis and John Valentis of Albany, N.Y. from J. Pepper Frazier, II, Dalton Frazier and Jennifer Frazier of Nantucket, Mass. for $1,150,000. The property is assessed at $1,196,400. The land bank fee is $23,000. 9. A house on .96 of an acre at 87 Somerset Road sold to James Georgaklis, Trustee, of Boston, Mass. from William Rohdenburg and Pamela J. Rohdenburg of Nantucket, Mass. for $1,100,000. The property is assessed at $927,000. The land bank fee is $22,000. 10. A house on .60 of an acre at 13 Swayze's Drive sold to Norman A. Levenson of Boston, Mass. from One Eagle Lane, LLC, of East Norwalk, Conn. for $825,000. The property is assessed at $803,400. The land bank fee is $16,500.
11. A house on .23 of an acre at 26 Allen's Lane sold to Eriberto Chacon and Maria Rosa Chacon of Nantucket, Mass. from John L. Glidden and Marcellus L. Glidden of O'Fallon, Mo. for $575,000. The property is assessed at $611,200. The land bank fee is $3,500 and the exemption is M.
12. A house at 5 Kinikinnik Ave. sold to Fred Tilton and Kerry Tilton of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $572,400. The property's assessed value is unavailable. The land bank fee is $3,448 and the exemption is M.
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13. A house at 8A Folger Ave. sold to Ryan P. and Gage S. Dobbins of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $572,400. The property's assessed value is unavailable. The land bank fee is $3,448 and the exemption is M.
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14. A house at 5 Sasemin Way sold to Michael P. McInerney and Phyllis L. McInernery of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $571,400. The property's assessed value is unavailable. The land bank fee is $3,428 and the exemption is M.
15. A house at 4B Folger Avenue sold to Lori A. Moran and Patrick Moran of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $545,400. The property's assessed value is unavailable. The land bank fee is $2,908 and the exemption is M.
16. A house at 2 Kinikinnik Ave. sold to Davon Francis and Heather Francis of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $498,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
17. A house at 4C Folger Ave. sold to Robert K. Earle and Rebecca K. Earle of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $498,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
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18. A house at 3A Field Ave. sold to Charles E. Davis, III and Deborah M. Davis of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $498,400. The property's assessed value is unavailable. The land bank fee is $1,468 and the exemption is M. 19. A house at 6C Folger Ave. sold to Toni Struncis of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $471,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
20. A house at 5B Field Ave. sold to Troy N. Towne and Linda Towne of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $471,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
21. A house at 8B Folger Ave. sold to Sarah Ray and Corey Ray of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $471,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
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22. A house at 1 Kinikinnik Ave. sold to Tracy R. MacDonald and Bradley G. MacDonald of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $471,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
23. A house at 3 Kinikinnik Ave. sold to Cheryl A. Buckley and Blaine C. Buckley of Nantucket, Mass. from Nantucket Homes for People, Inc. of Southborough, Mass. for $471,400. The property's assessed value is unavailable. The land bank fee is $1,428 and the exemption is M.
24. A condominium, Unit 3 at the Sanford Boat Building Condominium at 2 Sanford Road sold to Mid Island Realty Trust of Nantucket, Mass. from Lower Pleasant Trust of Nantucket, Mass. for $320,000. The property's assessed value is unavailable. The land bank fee is $6,400.
25. A house on 1.4 acres at 6 Flintlock Road sold to Neill Nelson, Trustee, Katherine Carter Nelson Revocable Trust of Glen Allen, Va. from Santiago Holdings, LLC, of Greenwood Village, Colo. for $1. The property is assessed at $1,214,400. The land bank exemption is D.
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26. A house on .09 of an acre at 24 Massachusetts Ave. sold to Ann R. Huntoon, Trustee, Ann R. Huntoon Revocable Trust of Richmond, Vt. from Ann R. Huntoon of Richmond, Vt. for $0. The property is assessed at $1,317,800. The land bank exemption is D.
27. A house on 2.7 acres at 15 Top Gale Lane sold to 15 Top Gale, LLC, of Nantucket, Mass. from Scott Lawlor and Elena Lawlor of Greenwich, Conn. for $0. The property is assessed at $15,247,400. The land bank exemption is I.
28. A lighthouse, Sankaty Head Light Station, on 11.1 acres at the northern terminus of Baxter Road sold to the Nantucket Historical Association of Nantucket, Mass. from the United States Coast Guard c/o Georges E. Bockstael, Real Property Branch Chief, of Warwick, R.I. for $0. The property is assessed at $14,565,600. The land bank exemption is G.
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29. A lighthouse, Sankaty Head Light Station, on 11.1 acres at the northern terminus of Baxter Road sold to the 'Sconset Trust, Inc. of Siasconset, Mass. from the Nantucket Historical Association of Nantucket, Mass. for $0. The property is assessed at $14,565,600. The land bank exemption is G.
30. A house on 1 acre at 239 Hummock Pond Road sold to Jeffrey E. Snook, Trustee of A Stone's Throw Nominee Trust, of Bowling Green, Ohio from Jeffrey F. Snook and Lee Anne Snook of Bowling Green, Ohio for $0. The property is assessed at $1,585,400. The land bank exemption is D.
31. A house on 1.1 acres at 18 Gardner Road sold to Victoria Reggie Kennedy, Trustee of the 18 Gardner Road Trust of Washington, D.C. from Victoria Reggie Kennedy of Washington, D.C. for $0. The property is assessed at $2,509,000. The land bank exemption is C.
32. A house on 2.8 acres at 1 Milestone Crossing sold to Michael Gunsen and Melinda Gunsen, Trustees, of Nantucket, Mass. from Michael T. Gunsen and Melinda C. Gunsen, Trustees, of Nantucket, Mass. for $0. The property is assessed at $1,731,300. The land bank exemption is D.
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33. A house on .52 of an acre at 12 Lincoln Ave. sold to Nancy Nevins D'anjou Nantucket, LLC, of Boston, Mass. from Theodore C. Nevins and William G. Nevins, Trustees of Nancy Nevins D'anjou Nantucket, Mass. for $0. The property is assessed at $4,990,200. The land bank exemption is I.
The Nantucket Islands Land Bank gained $666,896 in transfer tax fees for the week ending Oct. 6. For 2007, the Land Bank gained an estimated total of $12,597,953.48 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 first-time property buyers (applies to the first $400,000).
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.
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org. Or visit the office at 22 Broad St. I
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