Nantucket Home Spring 2017; Vol. 9, Issue 1

nantucket HOME Spring 2017

nantucket HOME

Vol 9 Issue 1

Real Estate News & Property Listings compliments of NAREB

Spring 2017

Vol 9

Issue 1

Real Estate News & Property Listings

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NAREB Member Directory

Nantucket Association of Real Estate Brokers

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NAREB Welcome

Nantucket Association of Real Estate Brokers

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Contents

Volume 9 • Issue 1 • Spring 2017

NAREB Member Directory................................................2 NAREB Welcome.............................................................. 4 A Home for Your Finest Wines.......................................10 Island Spotlight:.............................................................. 84 Broker Directory...............................................................91 Upcoming Events............................................................ 93 Sales: Corinne Giffin sales@nantucketrealestatebook.com Editorial: Suzanne Daub homes@nantucketrealestatebook.com

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Real Estate News & Property Listings Current Issue Vol 9 Issue 1 • Spring 2017 Visit Nantucket.net Real Estate

Nantucket Events Home Design & Decorating Landscapers & Lawn Care Build, Repair & Renovate Building Specialties Hardscapes, Gardening & Fences

Design: Louise Martling

Cleaning, Caretaking, Property Managers

Cover Photo: Greg Hinson/Nantucketstock.com

Green & Eco-Friendly Swimming Pools

Nantucket Home Real Estate News & Property Listings is a publication of the Nantucket Association of Real Estate Brokers, published four times in 2017 and distributed free on Nantucket and elsewhere. All contents of this magazine, including without limitations the design, advertisements, art, photos, and editorial content, are copyrighted 2017 by Coastal Internet Access, Inc. No portion of this magazine may be copied, reprinted, or reproduced in electronic media without express written permission of CIA, Inc.

On newsstands now or READ ONLINE

NantucketRealEstateBook.com

For inquiries about our 2017 publishing schedule and information about advertising, or to tell us what you might like to see in Nantucket Home, please send an email to Suzanne Daub at homes@nantucketrealestatebook.com or call 508-228-9165.

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REAL ESTATE by the Numbers FOR THE PAST 6 MONTHS

Numbers calculated from September 2016 through February 2017. The best month for sales on Nantucket during this time period was September 2016. Over the last six months, buyers of Nantucket real estate have come from Massachusetts, Rhode Island, Pennsylvania, Texas, New York, Maryland, Maine, New Jersey, California, Florida, Arizona, D.C., Connecticut, Delaware, Kentucky, Georgia, Illinois, Missouri, North Carolina, New Hampshire, New Mexico, Virgina, Canada and UK, with the majority from Massachusetts. Statistics provided by Nantucket Comparable Sales Service.

Number of properties sold during the past 6 months:

274

(Houses and lots only. Does not include properties in the housing covenant program or commercial real estate)

Total Dollar Volume:

$470,535,000 227 were residential, and 47 were lots

Of that,

Average purchase price:

$3,986,255 HOUSES $1,435,474 LOTS

89%

Average time on the market: MONTHS

Average % difference between asking price and sale price:

9

Highest dollar sale in the past 6 months:

$19,000,000 HOUSE $285,000 LOT

Jan. 2016

$94,684,000 $70,861,000

Jan. 2017

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Total Dollar Volume

Total Dollar Volume

Lowest dollar sale in the past 6 months:

$250,000 CONDO $3,350,000 LOT

$29,676,000 $37,924,000

Feb. 2016

Total Dollar Volume

Feb. 2017

Total Dollar Volume

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A Home for Your Finest Wines

by Carl Oscar Olson

W

ine is without a doubt one of life’s simpler yet finer pleasures. It seems there is a perfect bottle suited for every meal, every moment, and every memory. And though the memories might improve with age, most of the wine you drink will not.

Of all the wine produced around the world, only about 10% improves after a year of its production.

Of that 10%, only about 1% continues to benefit for years to come. Since the bottle suitable for cellaring is indeed a rare treasure, it’s best to cellar it correctly.

Aging wine takes place as the phenolic compounds undergo complex chemical reactions. The often harsh acids, tannins, and other components of the wine’s youth are transformed over time to yield a softer mouth feel, a change in color, and an array of flavors and aromas. These reactions take place at a cool and consistent temperature of about 55º F.

Photos by Michael Rynes

If the wine is allowed to get too warm too often, the chemical reactions occur more rapidly and have a negative effect.

In addition, there are reactions that take place at higher temperatures that simply don’t occur during proper storage.

Humidity also comes into play and should be maintained between 50% and 70%. Too low and the cork might dry out; too high and it could mold. Either way, the wine will be ruined.

Light is also an enemy. Harmful UV rays can cause the wine to age and degrade prematurely. On top of all that, some experts suggest wine should be protected from excessive vibrations.

Too much movement will disrupt sediment in the bottle and speed up the aging process.

There are many variables that come in to play when determining if a wine is suitable for aging. The vintage, region, and style of the wine are just a few. Generally speaking, grapes with low moisture content and thicker skin make better wines in the long run. These components provide more tannins and flavor compounds, which increase the likelihood that the wine will be able Continued on page 12

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A Home for Your Finest Wines - Continued from page 10

to age gracefully. Barrel aging in wood such as oak can also add some of the compounds essential for a cellared wine.

As the name implies, “cellars� are ideally built under ground.

The perfect conditions for wine storage often occur naturally and require little hardware, maintenance, or fuss. However, many builders and buyers of high-end and luxury real estate, like some found on Nantucket Island, are bringing the cellars out of the basement for everyone to enjoy.

There are many options for wine storage above ground for enthusiasts of every background and budget. Whether you live in a shack by the beach or a sprawling estate, there is a cellar solution to meet your needs.

Controlled wine storage is the best choice for those without proper cellaring conditions beneath the house, or those who want their collection to be more of a centralized focal point and feature. And lack of space is hardly a factor: large collections of 200-300 bottles can be properly housed in a room as small as 30 square feet, and smaller collections fit nicely in under-counter or free-standing wine refrigerators.

Refrigerators, or Wine Coolers, are ready-made and can be installed in minutes. Good for anywhere from 20 to 200 bottles or more, these units control temperature and humidity accurately and easily. They vary in size and cost anywhere from the low hundreds to $3,000 and up. A confident Do-it-Yourselfer can expect to pay about $3,000 to build an 8x8 foot cellar that will hold more than 500 bottles. Hiring a builder will easily

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double that cost. The finished product will likely be the most prized (and frequented) room in the house.

For dedicated collectors, elegantly crafted wine rooms can be designed that offer proper storage with style and fine fixtures.

Tasting areas can be included along with tables for entertaining fellow oenophiles. Wine rooms like the one shown here that is part of a compound located on Pocomo Road add to the luxury and appeal of a property.

Once you have your cellar or cooler installed, it is important to keep an active inventory of what wines and vintages you have in stock. This will be helpful with keeping track of what to drink first, and what to put away for years to come.

A wine cellar will not only protect your investment, but is a beautiful and unique addition to your home. Housing so many bottles at a time might seem unreasonable, but buying larger quantities can often save the consumer 15% to 25% on the cost of each bottle. The best part, though, is that not only will you allow your wine to build value, but you can also improve the value of your house.

World-class 3,500 bottle wine cellar and tasting room at 72, 76 and 78 Pocomo Road Listing Agents: Gary Winn, Craig Hawkins, Bernadette Meyer

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Island Spotlight: Nantucket Cottage Hospital

Spring Groundbreaking Planned for New Hospital

by Jason Graziadei, Public Information Officer at Nantucket Cottage

Main Entrance: In collaboration with architects from Cannon Design, Nantucket Cottage Hospital staff, volunteers, patients, and community members have all provided valuable insights that have guided the design of the new hospital. These plans honor the architectural heritage of Nantucket, while also reflecting the quality medical care that is provided inside.

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antucket Cottage Hospital is preparing to break ground for the construction of the island’s first new hospital in more than 60 years.

This dynamic new facility will transform the patient experience by enhancing privacy and safety, increasing access to health care providers, and incorporating new technology throughout the building. The plans for the new two-floor, 106,000-square-foot hospital have received unanimous approval from state and local regulatory agencies, and the project is being financed entirely through the generous private donations of the Nantucket community with no taxpayer dollars.

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Nantucket Cottage Hospital President and CEO Dr. Margot Hartmann and Kevin Hickey, Chairman of the Board of Trustees, have described this effort as “a once in generation opportunity to build the right hospital for Nantucket.� The new hospital that has been designed will be modern, efficient, and flexible enough to adapt to the rapidly changing nature of health care delivery, and meet the challenges that come with being the ultimate safety net for a community 30 miles at sea. It will also create the foundation for the future of the hospital by providing new opportunities to expand services and attract the best clinicians.

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Spring Groundbreaking - Continued from page 84 The hospital campus at 57 Prospect Street has been completely transformed over the past six months in preparation for this historic project. These efforts have included the temporary moves of 45 employees, including the physician practices of Drs. George Butterworth and Tim Lepore, building moves, demolition, parking reorganization, tree removal, and extensive site work.

The building site for the new hospital is located directly behind the current facility, so this required the moves of the medical office building, known as the Anderson Building, to Prospect Street, as well as the

Founders Building, which was relocated to Vesper Lane. A third structure on the NCH property that contained offices and conference rooms was demolished. In late March, site work began to reorganize and improve the front parking lot of the hospital before groundbreaking for the new facility.

Other recent milestones include the issuance of a building permit from the Town of Nantucket’s Building Department, as well as the signing of a construction contract with Suffolk Construction, which has been selected as the general contractor for the project. The estimated completion date

for the new hospital is mid-2018, and the current facility will remain fully operational throughout construction.

Meanwhile, the capital campaign for the new hospital has generated unprecedented support from the island community.

To date, Nantucket Cottage Hospital has received pledges and commitments of more than $97 million toward its campaign goal of $120 million for the new hospital and urgently needed hospital housing that will complete its campus. This represents the largest capital campaign in island history.

Support for the new hospital has also come from NCH’s affiliate, Massachusetts General Hospital, which has not only contributed more than $10 million toward the construction effort, but will also provide interest-free construction financing against signed campaign pledges. So when a Nantucketer signs a five-year pledge for the new hospital, Mass General has agreed to advance those funds to NCH immediately so construction can begin as soon as possible.

For many island families and individuals, their contributions to the campaign were the largest charitable gifts they have ever made.

A Glimpse Into the New Emergency Department: An expanded Emergency Department will make us crisis ready, while co-locating the department adjacent to the inpatient beds creates flexibility and efficiency for our staff and clinicians. The new Emergency Department will increase in size from the current 4,400 square feet to 7,340 square feet, and expand from the existing 7 exam rooms to a total of 12 exam rooms in the new hospital, including 2 trauma rooms and 2 patient observation rooms.

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So when the doors of the new hospital open next year and the first patient receives treatment in this dynamic new facility, it will truly be a celebration of the generous Nantucket community.

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Broker Directory

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Broker Directory

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Continued from page 91

Broker Directory

Nantucket Spring Event Highlights

Here are some of our favorites and regularly scheduled spring events.

For an up-to-date calendar of daily events, visit Nantucket.net.

Going Daffy

April 28, 29, & 30 Nantucket Daffodil Festival

The season starts with going daffy on Nantucket.

The annual Nantucket Daffodil Festival, organized by the Nantucket Island Chamber of Commerce includes an Antique Car Parade, Daffy Hat Parade, a Tailgate Picnic, and the popular Nantucket Community Daffodil Flower Show sponsored by the Nantucket Garden Club. For more festival details and events visit DaffodilFestival.com

Live Music Almost Every Day at Cisco...

Nantucket’s famous winery-brewery-distillery is also one of the island’s favorite spots for live music year-round. Every day of the week they feature live bands, some local, some regional, all offering great music for dancing or for listening while you relax with friends. Check out ciscobrewers.com for times and who’s playing.

Classics in Concert...

The Nantucket Arts Council again offers its Downtown Celebrity Concerts, presenting concerts with outstanding musicians at a time of year when professional live entertainment on Nantucket might otherwise be scarce.

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Nantucket Spring Event Highlights - Continued from page 93 May 14 • 4 pm North Star Jazz Ensemble in Concert

The North Star Jazz Ensemble is built around the silky sound of saxophonist Bruce Abbott supported by the solid rhythm section of Ron Fournier on piano, Marty Ballou on bass, and Paul Mason on drums. This concert will include featured vocalist Marcelle Gauvin.

Concert performed in The Dreamland Theatre, 17 South Water Street.

Tickets at Dreamland Box Office: 508-332-4822.

June 11 • 4 pm 4 Astounding Hands on One Piano

Pianists extraordinaire Jennifer Maxwell and Svetlana Belsky perform on one piano.

This duo started performing in 2005, when they discovered how remarkably well-matched they are at a keyboard. Concert performed in The Dreamland Theatre, 17 South Water Street. Tickets at Dreamland Box Office: 508-332-4822.

Local Talent...

The Nantucket Music Center’s mission is to enrich the cultural life of the island by fostering and supporting music education and performance opportunities for youth and adults.

Enjoy Island Art Art Exhibit Opening Receptions Artists Association Cecelia Joyce & Seward Johnson Gallery 19 Washington Street

April 14 • 5-7 pm: Spring Sweep Opening Preview Party April 21 • 5-7 pm: Outside the Box May 12 • 6-8 pm: A Dot that Went for a Walk May 26 • 6-8 pm: Artists Open/Cellography Exhibition June 9 • 6-8 pm: Clean Lines on the Horizon

Fun with Food and Wine April / May / June • Cooking Demos and Classes

Gather round state-of-the-art cook stoves to chop, stir, and stew seasonal ingredients with expert culinary instructors in the Nantucket Culinary Center on Federal Street. Each class is unique and focuses on Nantucket’s hand-crafted products and purveyors. Details and tickets at NantucketCulinary.com

May 17-21 • Nantucket Wine Festival

This boutique experience of worldclass wines and award-winning food will forever change you. Over the past 21 years, the Nantucket Wine & Food Festival has become one of the most celebrated wine and food events in the country. Signature events include Great Wines in Grand Houses, Culinary Tent, Grand Tastings, and Harbor Breakfasts. Details and tickets at NantucketWineFestival.com

April 27 • 6 pm: Faculty Showcase Parlor Concert May 14 • 4 pm: Jazz Band Concert May 25 • 6 pm: Faculty Showcase Parlor Concert

Theatre April 17, May 11, 18, & 21 National Theatre Live in The Dreamland

National Theatre Live (NT Live) is the National Theatre’s groundbreaking project to broadcast the best of British theatre live from the London stage to cinemas across the UK and around the world. This series is shot in high-definition and is transmitted live via satellite from the National Theatre in London. Tickets at NantucketDreamland.org

May 10 - June 3 • Barefoot in the Park

A Neil Simon classic comedy, Barefoot in the Park captures newlyweds who epitomize the maxim “opposites attract.” Their marriage turns upside down after plumbing disasters, unexpected visits by in-laws, and matchmaking plots gone awry. Tickets at theatreworkshop.com

June 3-18 • Fully Committed

In this hilarious ode to the vagaries of the Manhattan restaurant scene, an unemployed actor navigates the treacherous waters of answering the reservation line at New York’s hottest restaurant. Watch one actor perform 40 characters and attempt to save his own struggling career.

Tickets at theatreworkshop.com

May 20 • Stand Up and Learn Kids’ Comedy Show

Stand Up & Learn is a comedy education program open to island youth ages 8 to 18. Workshops are taught by Kevin Flynn, professional standup comedian and executive director of The Nantucket Comedy Festival, with help from his pro comic friends. Watch the kids perform after each workshop in The Dreamland’s Main Theater, 17 South Water Street.

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June 5-11 • Nantucket Restaurant Week

Nantucket Restaurant Week is a celebration of the superlative culinary tradition found on Nantucket. Savor exceptional food and wine in many of the island’s acclaimed culinary establishments. Participating island restaurants will be offering 3- to 5-course dinners from $35 to $45.

Details at NantucketRestaurantWeek.com

Our Natural World April 23 • 10 am - 3 pm • SpringFest

This free community celebration for all ages features exhibits, panelists, music, dancing, activities for kids, eco-education. Presented by the Nantucket Eco Group at Cisco Sanctuary on Bartlett Farm Road.

May 8 • 6 pm • Science Pub

Patricia Brennan of Mt. Holyoke College will talk about “Wild Sex”: the sex life of animals, in an informal atmosphere at the Nantucket Culinary Center. Beer, wine and food will be available for purchase off an a la carte menu. Presented by Linda Loring Nature Foundation.

Call 508-325-0873 for details.

May 13 • Birds and Brews!

The morning will feature a birding blitz across different island habitats to observe as many species as possible. In the afternoon, head over to Cisco Brewers to tally species lists, compile results, and celebrate bird conservation/research. Organized by Linda Loring Nature Foundation, details at llnf.org.

nantucket HOME Spring 2017

nantucket HOME

Vol 9 Issue 1

Real Estate News & Property Listings compliments of NAREB

Spring 2017

Vol 9

Issue 1

Real Estate News & Property Listings