Real Estate Confidential is a weekly chit-chat about new listings, sales, or other insider info on the Martha’s Vineyard Real Estate market, by Fred Roven, Martha’s Vineyard Buyer Agents. It appears each Friday in The Minute.
I think I have found what could be the number one best opportunity for waterfront living on the entire east coast. I toured the recently listed property at 721 Main Street this week in Vineyard Haven and my imagination was flying. I continue to believe the best waterfront investment on Martha’s Vineyard is harborfront in Vineyard Haven. The waterfront demand has not caught up with the other down-Island towns, particularly Edgartown, but catch-up they will. Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks, gold, and savings accounts. For the sixth year in a row, real estate has come out on top as the best long-term investment. This year’s results showed that 35% of Americans chose real estate, followed by stocks at 27%.
In a very unlikely and fortunate opportunity for the savvy buyer, there are three beachfront properties available at this moment and each home is special in its own right. My vision is a family compound — with 350 feet of sandy beach and a shared dock — to be in your family for generations to come. There appears to be room for a tennis court combining just two of the properties and possibly a swimming pool subject to important conservation questions.
The three contiguous properties are centered on a 1960’s contemporary at 733 Main Street and priced at what I understand is a negotiable $3,250,000. This property brings with it unsurpassed views across its 145 feet of private beach to nearby Sheriff’s Meadow with views across Vineyard Sound.You can use the home and guest house as is, provide additional guest quarters when added to a neighboring property, or replace it with a family common area with pool and tennis court as zoning will allow to complete the family compound. Adding this property with just one on either side will give you a very suitable family compound. You can use it to host your own family events.
To the north at 741 Main Street sits a six bedroom, 1910 beach house renovated with a state-of-the-art kitchen and pristine hardwood floors, priced at $5,475,000. This home also has its own private, sandy beach with views across the outer harbor and Sheriff’s Meadow — casual living at its best. The panoramic views are available from most rooms: sit on the built-in window seat as you look out across manicured lawns, while watching the active harbor or as the day ends and the sky offers spectacular sunset colors. These are unbeatable experiences. Of course, if you need more, add 733 Main for another four bedrooms, or add to your family compound with its additional ⅔ acre.
The final parcel at 721 Main Street, priced at $6,950,000 is my favorite.The approach on the long driveway is breathtaking in its own right, but entering the front door and the expansive, panoramic views leads to oohs and aahs one only dreams about. And what do you see: a thoughtfully renovated home built closer to the water than would be allowed today under current zoning, that has every modern convenience, but has maintained its beach house feel. The setting across the 110’ of private beach, reportedly has the best swimming on the Island and includes a dock, mooring and of course those endless views to Vineyard Sound across Sheriff’s Meadow and the outer harbor. The three bedrooms (plus one detached, plus a den) are laid out on one floor at opposite ends off the great room, with its skylit cathedral ceilings providing privacy for family and guests.
So, take a look at the photos and let your mind wander over all the options these properties afford.
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