Barstool Sports founder Dave Portnoy recently purchased an impressive Nantucket estate for a staggering $42 million, leaving even the island’s wealthy residents in awe.
This off-market deal not only sets a new record for Nantucket, but also surpasses records across Portnoy’s native Massachusetts.
The previous record of $38.1 million, set in June, now appears insignificant in comparison.
According to sources from the Wall Street Journal,, the property’s sellers are two trusts with intriguing names — the MAK Daddy Trust and MAK Shack Trust.
Shellie Dunlap, representing the sellers from Lee Real Estate, declined to comment.
Tucked away in the sought-after Monomoy area, this exceptional property spans approximately 1.2 acres and offers breathtaking views of Nantucket Harbor.
But the deal doesn’t end at the eye-popping purchase price; it also includes an additional $2 million worth of luxurious furnishings and opulent items.
The sellers acquired adjacent parcels for a combined $13.3 million in 2016, demolishing two existing homes to create the magnificent compound that now graces the island.
The compound features a main residence, a stunning pool area, and separate guest quarters, all exquisitely designed by renowned firm Workshop/APD.
Dunlap revealed that the main house boasts four bedrooms, including a primary suite with an indoor/outdoor shower and foldaway glass doors that open to the captivating harbor views.
Concealed behind the main residence is a hidden treasure that includes a two-bedroom guesthouse and a separate studio, connected by an underground tunnel. This secret tunnel adds an element of intrigue to an already remarkable property, reminiscent of a scene from a James Bond movie.
Peter Engen, also from Lee Real Estate, represented Portnoy in this monumental transaction but remained tight-lipped about the details.
This isn’t Portnoy’s first venture into Nantucket’s real estate market.
Records show he previously purchased a Nantucket home for a mere $2 million. However, this latest acquisition is undoubtedly a testament to his ongoing success and thriving business ventures.
Portnoy’s journey from founding Barstool as a humble gambling newspaper in Boston in 2003 to becoming a media mogul is nothing short of remarkable.
Today, Barstool Sports is renowned for producing online content, podcasts, and videos. Portnoy hosts the popular online show “One Bite Pizza Reviews,” where he travels the world in search of the perfect slice.
Remarkably, Portnoy sold Barstool to Penn Entertainment for a staggering $550 million before reclaiming it in August, further showcasing his astute business acumen.
Since the start of the pandemic, Nantucket, often considered an enclave of the elite, has witnessed a surge in property prices.
High demand coupled with limited availability has driven prices to astronomical heights. This year, venture capitalist Evan Jones and his wife, Cindy Jones, sold their Nantucket waterfront compound for $38.1 million, despite initially listing it for $56 million.
Not long before that, another property sold for an impressive $36 million in 2022, according to real estate data firm the Warren Group.
Dunlap shed some light on why her clients decided to sell. She cited the robust state of the real estate market and the current demand for move-in ready homes on Nantucket as key factors.
In her words to the Journal, “When there’s quality construction and a buyer can literally walk right in… they’re willing to pay a premium.”
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
