The Nantucket house, threatened by coastal erosion, has been demolished
The house, which was purchased for $200,000, was used by the current owner for one week. (Credit: Keith Noble)
A house on Nantucket Beach, badly threatened by coastal erosion, has collapsed.
Earlier in the week, crews demolished a home on the southern shore of Massachusetts Island. As he says The Nantucket Current.
A beachfront home at 28 Sheep Pond Lane in Nantucket, Massachusetts, Tuesday, January 14, 2025, was purchased last year for $200,000 and has been ordered demolished by the city due to erosion of the nearby shoreline. (Keith Noble)
It’s nearly half a year after TicketNetwork Inc. founder Don Vaccaro bought the beachfront property from its longtime owners in a $200,000 deal in the summer of 2024.
City officials reportedly decided in December that the home should be demolished.
The billionaire was forced to demolish his Nantucket beach house
He reports that the sea has been receding 10-20 feet off the coast in the last six months and has been getting closer and closer to him over the years.
Photographs show an excavator destroying a two-story house and depositing debris in a nearby landfill.
A beachfront home at 28 Sheep Pond Lane in Nantucket, Massachusetts, Tuesday, January 14, 2025, was purchased last year for $200,000 and has been ordered demolished by the city due to erosion of the nearby shoreline.
FOX Business has reached out to the homeowner for comment.
A beachfront home at 28 Sheep Pond Lane in Nantucket, Massachusetts, Tuesday, January 14, 2025, was purchased last year for $200,000 and has been ordered demolished by the city due to erosion of the nearby shoreline. (Keith Noble)
Vaccaro, who owns a neighboring property, told the Nantucket Current, “He was able to use it for a week with my family and kids in both houses, which was a priceless experience, so it was worth it in the end.”
“Unfortunately, the city wanted the house demolished for safety reasons, and even though the house is still structurally sound, we complied with the city’s request,” he said.
A beachfront home at 28 Sheep Pond Lane in Nantucket, Massachusetts, Tuesday, January 14, 2025, was purchased last year for $200,000 and has been ordered demolished by the city due to erosion of the nearby shoreline. (Keith Noble)
NANTUCKET BEACHFRONT HOMES ARE STILL WANTED BY BUYERS DESPITE HIGH RISKS OF BEING SWALLOWED BY THE SEA.
A beachfront home at 28 Sheep Pond Lane in Nantucket, Massachusetts, Tuesday, January 14, 2025, was purchased last year for $200,000 and has been ordered demolished by the city due to erosion of the nearby shoreline. (Keith Noble)
Nantucket Current reported last year that the previous owners sold the home to Vaccaro for just $200,000 after receiving a “call out of the blue.” Property records filed Friday list an assessed value of about $1.3 million.
They weren’t listed for sale before the offer because “they don’t want to sell it to somebody when they know the hurricane is going to destroy it next week,” he said.
In a statement to Fox Business in early July of last year, shortly after the house changed hands, Vaccaro said, “He had no illusions that the house would last more than a year, and he bought it on the assumption that it would be underwater in the spring of 2025.”
A NANTUCKET BEACHFRONT HOME is selling at an incredibly low price, but there is a catch
Beach erosion is a phenomenon that many areas around Nantucket have to contend with.
On the southern coast, the island experiences “between” 0.56 feet and 12.63 feet of annual beach erosion, the local government said on its website.
