PROPERTY TRANSFERS
Oct. 22, 2007 ~ Oct. 26, 2007
5.Ahouse on 2.05 acres at 1 New York Ave. on Esther Island sold to Esther Island Retreat, LLC, of Wilmington, Del. from Bruce W. Manternach, Jr. of Pontassieve, Italy for $2,395,000. The property's assessed value is unavailable. The land bank fee is $47,900. 8. A house on .15 of an acre at 15 Wood Lily Road sold to Azra Willmot-Smith of Nantucket, Mass. from Rugged Scott, LLC, of Cambridge, Mass. for $1,185,000. The property's assessed value is unavailable. The land bank fee is $23,160.

1. A house on 1.02 acres at 26 Squam Road sold to Robert J. Newhouse, III and Laurie B. Newhouse of Austin, Texas from Jeanne Cohane of Nantucket, Mass. for $4,300,000. The property is assessed at $3,679,000. The land bank fee is $86,000.

9. A house on .28 of an acre at 24 Clarendon St. sold to Richard E. Facteau and Kelly A. Facteau of Nantucket, Mass. from Jeffrey A. Richardson of Cambridge, Mass. for $940,000. The property is assessed at $837,600. The land bank fee is $18,800.

10. A condominium, Unit 4, on .24 of an acre at 15 Young's Way sold to Walter J. Glowacki of Nantucket, Mass. from Michael J. Wilson, Trustee, Cooped Up Realty Trust of Nantucket, Mass. for $675,000. The property is assessed at $996,700. The land bank fee is $13,500. 11. A vacant lot, Lot 7B, of .41 of an acre at 4 Bartlett Road sold to Mindy Levin of Nantucket, Mass. from John Dooley, c/o Nantucket Aella, Ltd, Inc. of Nantucket, Mass. for $550,000. The property is assessed at $1,198,100. The land bank fee is $11,000. 12. A house on 2.2 acres at 11 Mill Hill Lane sold to William J. Rees, Denis H. Gazaille, William P. Hourihan, Jr. and Clair Graves, as Trustees of Dorothy Harrison Egan Foundation of Franklin, Mass. for $475,000. The property is assessed at $388,500. The land bank fee is $9,500.

2. A house on 1.1 acres and 1.7 acres at 48 and 49 West Miacomet Road, respectively, sold to Patricia J. Cowan and Cameron Cowan of Potomac, Md. from McGannon Family Limited Partnership ("MFLP") of Nantucket, Mass. for $3,800,000. The properties are assessed at $3,893,500 and $2,058,200, respectively. The land bank fee is $76,000.

13. A condominium, Unit 2, at 11 Marble Way sold to Lindsay Mohr of Nantucket, Mass. from the Cassidy Family Trust of Nantucket, Mass. for $415,940. The property's assessed value is unavailable. The land bank fee is $318.80 and the exemption is M.

3. A business on .12 of an acre and .11 of an acre at 10 and 12 Washington St. sold to Greenhound, LLC, of Nantucket, Mass. from Reith Ventures Limited Partnership of Nantucket, Mass. for $3,500,000. The properties are assessed at $2,004,300 and $1,845,600. The land bank fee is $70,000.

14. A vacant lot of .14 of an acre at 2 Gardner Perry Lane sold to James F. Mondani of Boston, Mass. from Polpis Engineering, Inc. of Nantucket, Mass. for $50,000. The property is assessed at $1,470,600. The land bank fee is $1,000.

15. A house on .05 of an acre on a portion of 8 Jefferson Lane sold to Le Select Properties, LLC, of Nantucket, Mass. from Candice Miller and Edward Bernard of Nantucket, Mass. for $19,835.41. The property is assessed at $893,600. The land bank fee is $396.71.

16. A house on .07 of an acre on a portion of 42 Pine St. sold to Candice Miller and Edward Bernard of Nantucket, Mass. from Le Select Properties, LLC, of Nantucket, Mass. for $16,624.84. The property is assessed at $1,628,100. The land bank fee is $332.50.

4. A house on .46 of an acre and .46 of an acre at 19 Cannonbury Lane and 4 Reaper Circle, respectively, sold to Cannon Reaper, LLC, of Washington, D.C. from William B. Wilbur and Jill M. Wilbur of Barrington, R.I. for $2,500,000. The properties are assessed at $2,090,400 and $865,100, respectively. The land bank fee is $50,000.

17. A house on .14 of an acre at 16 Kittiwake Lane sold to Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. from Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. for $10. The property is assessed at $1,315,600. The land bank exemption is B.

18. A house on 3.4 acres at 12 Eat Fire Springs Road sold to Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. from Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. for $10. The property is assessed at $1,626,500. The land bank exemption is B.

6. A house on 1.02 acres at 1 Marcus Way sold to Ack Children's House, LLC, of Nantucket, Mass. from Frederick W. Ulmer and Tracy M. Ulmer of Nantucket, Mass. for $2,250,000. The property is assessed at $2,650,200. The land bank fee is $45,000.

19. A house on 5.3 acres at 5 Old Quidnet Milk Route sold to Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. from Dennis L. Winger and Barbara L. Waldman of San Francisco, Calif. for $10. The property is assessed at $9,156,000. The land bank exemption is B.

20. A house at .18 of an acre at 7 Gloucester St. sold to Kathleen Anne Perras of Nantucket, Mass. from John W. Perras of Auburn, N.H. for $0. The property is assessed at $805,100. The land bank exemption is K.

21. A house on 1.9 acres at 70 Fairgrounds Road sold to David J. Ryan and Moira Clair Ryan of Nantucket, Mass. from David J. Ryan of Nantucket, Mass. for $0. The property is assessed at $736,900. The land bank exemption is C.

22. A house on .50 of an acre at 134 Surfside Road sold to Janet E. Glitzenstein, Lisa Glitzenstein and Kurt Glitzenstein, Trustees, Walter L. Glitzenstein Family Trust of The Villages, Fla. from Janet E. Glitzenstein of The Villages, Fla. for $0. The property is assessed at $1,089,600. The land bank exemption is E.

7. A house on .10 of an acre at 15 Beach St. sold to Theresa Sabol Burlingham and Mark G. Burlingham of Crona Del Mar, Calif. from Joseph M. Lawler, Trustee, of Wellesley, Mass. for $1,560,000. The property is assessed at $1,170,000. The land bank fee is $31,200.

23. A house on .16 of an acre at 8 Aurora Way sold to John Scott Mueller of Montclair, N.J. from Richard J. Glidden, Trustee, of Nantucket, Mass. for $0. The property is assessed at $1,600,800. The land bank exemption is D.

24. A vacant lot of 1.1 acres at 37 Nobadeer Farm Road sold to Mark S. Fleming, Stephen R. Fleming and Margaret A. Fleming, Trustees of Rosemary Way Homeowners Association Trust of Nantucket, Mass. from Mark S. Fleming of Nantucket, Mass. for $0. The property is assessed at $716,700. The land bank exemption is D.

25. A house on .66 of an acre at 17 Ahab Drive sold to Alison Abbott, Adrian Proll and Elizabeth Dougherty of Newton, Mass, Larchmont, N.Y. and Beverly, Mass., respectively, from Wallace S. Barrett, Trustee of the Barrett Family Realty Trust of Nantucket, Mass. for $0. The land bank exemption is D.

The Nantucket Islands Land Bank gained $484,108.01 in transfer tax fees for the week ending Oct. 27. For 2007, the Land Bank gained an estimated total of $13,852,608.41 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.

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.org. Or visit the office at

22 Broad St. I