
The landmark Vineyard Haven property known as Chip Chop sold for $23.9 million on Friday.
The Dukes County Registry of Deeds recorded the sale of the two properties — 690 and 794 Chappaquonsett Road. Two trusts – Seven Nine Four Chappaquonsett Road Realty Trust and Martha’s Vineyard Holding Trust – were listed as the buyers.
The Wall Street Journal first reported the sale Friday morning, reporting that Island investor David Malm purchased the property. Malm owns several properties on Nantucket and Martha’s Vineyard, including a home in Edgartown on South Water Street that was subject to controversy.
Chip Chop is an iconic Island property, and was owned by former ABC News Anchor, Diane Sawyer, before the sale on Friday. Sawyer and her late husband Mike Nichols were longtime seasonal residents of the Vineyard. The couple were married on the Island in 1988, and in 1995 purchased Chip Chop.
The Chappaquonsett property has a long history of hosting well-known dignitaries aside from Sawyer. It was built as a home for famed Broadway actress Katharine Cornell. Also, the Chip Chop property is painted into the mural in town hall in Vineyard Haven, at the Katharine Cornell Theater, painted by Island artist Stan Murphy.
The property has two separate lots — one 17.4 acres, and the other 2.84 acres. Sotheby’s says there’s a mile of private shoreline surrounding the property, “including 2,000 feet of sandy beach on the exquisite swimming waters of Vineyard Sound, and a large swath of sandy beach on Lake Tashmoo.”
Sotheby’s writes that there are four homes on the property, a three-bedroom main house, a two-bedroom cottage, and two beach houses built in 2007.
Is it really worth 24 million?
Congratulations to the real estate broker who nailed the listing price. Now that is someone who knows the market. Sold for asking price and in a very short time on the market. Very impressive.
Congratulations? Most houses are selling well above listing price.
Then they weren’t listed at market value.
It takes experience and skill to know the market and this broker obviously has both.
Another weekly high end rental unit? Or maybe the new homeless shelter?
That’s $480,000 for the land bank.
That’s the equivalent of the entire
annual income of about 6 households
on the Vineyard, 12 in Mass and
and an entire years income for
126 people in Gaza.
I feel soooooo bad for the buyers
of this property.
But I will really appreciate the sacrifice
of those who now own this property
when I am taking a walk on a
land bank trail.
I fully understand that their tremendous
suffering under this horrible burden will never
be offset by the joy that thousands of people
get when they can access some of the beautiful
properties the land bank owns free of charge.
But I hope they can find some solace while
walking on their 2000 ft of private beach
that most of us will never see.
Are you opposed to the concept of private property?
Private beaches?
Private docks?
Albert- I didn’t say anything that would
imply I was against private property.
Personally, I think beaches should be
open to the public in some way.
But they are not, so I get over it.
I was merely expressing my delight
that the land bank go a lot of money
which they will use for the benefit
of the public while acknowledging
the sacrifice of the new owner.
I mean , really, he could have used
that 480 K to fly to Paris in his private
jet ( I am opposed to that concept)
to have lunch at his favorite cafe about
16 times. Now he can only afford to get
a few burritos from La Choza– which are
really good, but not the same as duck coife
or Foie gras served on the finest dinnerware
and with the most exquisite cut crystal
holding a $400 glass of wine in the finest
of Parisian restaurants.
I feel bad for him, don’t you ?
I doubt the new owner is giving the issue much thought
It’s really depressing that a beautiful Vineyard property will now be “enjoyed” by a real estate investor rather than a person or family with a passion and love for the Island. What will all those “Private” and “No Trespassing” signs on the property be protecting now and for whom?
I remember when they bought the property for 4 million. It was over the asking price.
There goes the neighborhood. Malm will poison the soil just like all his other properties.
Mike– do you know something we don’t ?
“poison” ? Do you think he is going to use
“weed and feed” or some kind of herbicide?
please explain.
Thanks
Buyer beware! I worked at the house years ago and no footings were ever installed prior to installation of foundation. When the tide is astronomically high the crawl space is salt water and sand slurry. Sand and plywood are holding foundation walls in place. Good luck. Who was the “qualified “ home inspector?
Hmm pretty sure this was an all cash no contingency sale. Wild guess
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