Sotheby’s International Realty has listed a monthly rental of a coastal Chilmark estate at $1 million a month, which some Islander realtors say is the first to hit the notable high mark.
The 11-bedroom, 13-bathroom home — assessed by the town at nearly $40 million –- is located on nearly five acres on Point Inner Way overlooking Nashaquitsa Pond.
This “stunning compound,” as the listing refers to the property, includes two kitchens, a home theater, an indoor basketball court, a pickleball court, and a custom-made Italian boat, among other amenities.
Adam Zoia is listed as the owner of the property.
Tom Wallace, founder and principal broker at Wallace & Co. Sotheby’s International Realty, tells The Times that the listing is the most expensive high-end property and amenity package that he is aware of on the Island.
But he doesn’t think this will be setting a precedent for more million-dollar rentals on the Island. He said the house would be vacant, and the owners figured they could rent it out. He added that there are similar prized properties on the Island, but the amenities coming with the Point Inner Way property make it that much more appealing.
Earlier this week, the listing was also chronicled in the Robb Report — a global luxury magazine — as “the most expensive rental to ever hit the Island.”
While an impressive estate, the construction of the Point Inner Way property spurred the town of Chilmark to clamp down on massive developments.
During what The Times reported in 2013 was one of the largest annual town meeting turnouts in recent memory, voters approved a change to the town’s zoning bylaws to set limits on house sizes.
Among the changes, regulations set a threshold of 3,500 square feet of total living area for new construction on three-acre lots. Beyond these limits, a special permit is required, and the maximum size limit on three acres is 6,000 square feet.
When it was built in 2012, the main house on Point Inner Way was constructed at over 8,000 square feet.
The listing by Sotheby’s calls the rental opportunity an immersive, high-end escape. “The lush green surroundings, invigorating coastal breezes, and overall sense of serenity make it an attractive destination for those in search of an escape,” the listing states. “This rental opportunity guarantees an immersive, high-end escape where guests can unwind in a serene atmosphere, surrounded by the beauty of nature and the thoughtful luxury woven into every aspect of the property.”
