$2M Nantucket beach house sells for just $200,000
What was the original assessed value of the Nantucket beach house?
The original assessed value of the Nantucket beach house was $1.97 million. The house, severely threatened by beach erosion, was sold for only $200,000, which was approximately $1.77 million lower than the assessed value.
How much did Don Vaccaro pay for the Nantucket beach house?
Don Vaccaro paid $200,000 for the Nantucket beach house, which was significantly lower than the assessed value of $1.97 million. The house was under threat of erosion, and the previous owners had tried to find a housing non-profit to move the house before selling it to Vaccaro.
What mitigation techniques is Don Vaccaro considering for erosion?
Don Vaccaro is considering costly mitigation techniques such as sea grass planting and silt fencing to slow down the erosion process for the Nantucket beach house he recently purchased3. These methods aim to stabilize the shoreline and protect the property from further damage due to coastal erosion.