Thursday, August 16, 2012

$92 Million Property in Martha's Vineyard

In August 2012, a 266-acre piece of property in Martha’s Vineyard was listed for sale, resulting in a flurry of excitement among the world's uber-rich. This vineyard property has been listed for 92 million dollars, which is the highest price ever quoted for any property on this prestigious summer-vacation island. In fact, this Martha Vineyard property is also the most expensive listed property to the north of New York City.

Martha’s Vineyard has always been known as an exclusive summer vacation retreat of the affluent and powerful. It is the 58th largest island in the United States, and has hundreds of vacation rentals, at which the rich elite spend luxurious vacations with their family, and host parties, almost all year round.

The prestigious Kennedy family is believed to have stayed at vacation rentals on Martha’s Vineyard for decades, and bought expensive beachfront property here. In recent times, President Barack Obama and his family have spent their vacations at private vacation rentals on Martha’s Vineyard. In fact, the Obama’s have visited the island as many as three times.

Features of the 92 Million Dollar Property in Martha’s Vineyard

The 92 million dollar Martha’s Vineyard property is situated in West Tisbury, and faces the southern shore of the island. It consists of five separate portions of sea-facing land, which also includes the world-famous Big Homer’s Pond. According to leading real estate dealers, this 266-acre piece of property will become the largest property to ever change hands in a single transaction on Martha’s Vineyard, when it is finally sold.

This beachfront Martha’s Vineyard property faces 1,100 feet of the most beautiful sands on the island, and offers great views of the Atlantic Ocean. This 92 million dollar piece of land also comes with exclusive rights for building and construction on Big Homer’s Pond. In addition, the exclusive beachfront property is just next to the Long Point Wildlife Reservation, a 500-acre property filled with interesting flora and fauna.

The seller of the 92 million dollar property in Martha’s Vineyard has been identified as Gerald DeBlois, a person who has been residing is West Tisbury for a long time. The listing agents Wallace & Co are offering the beachfront property to elite billionaires and multi-millionaires, rather than to real-estate developers. This includes billionaires from China and other Asian countries, who have lots of spare money lying around.

Would you like to own a piece of property in Martha’s Vineyard? What do you think about foreigners buying and owning property in your country?

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