The house, bought for $200,000, was used for a week by the current owner. (Credit: Kit Noble)
Home on Nantucket’s shore which was seriously threatened by beach erosion was demolished.
At the beginning of the week, workers demolished a house located on the southern coast of the island of Massachusetts. according to Nantucket Current.
A beach house at 28 Sheep’s Pond Lane in Nantucket, Massachusetts, Tuesday, Jan. 14, 2025. The house, which was purchased last year for $200,000, was ordered demolished by the city last month due to erosion of the adjacent beach. (Keith Noble)
The demolition comes about half a year after Ticketnetwork Inc. co-founder Don Vaccaro bought the waterfront property from its longtime owners in the contract worth $200,000 during the summer of 2024.
The city authorities allegedly decided in December that the house must be demolished.
BILLIONAIRE FORCED TO DEMOLISH NANTUCKET BEACH HOUSE
The sea has been coming closer and closer to it over the years, and 10-20 feet of beach surrounding it has disappeared in the past six months, the paper reported.
Photos show the excavator destroying the two-story building and dumping the remains into a nearby dumpster.
A beach house at 28 Sheep’s Pond Lane in Nantucket, Massachusetts, Tuesday, Jan. 14, 2025. The house, which was purchased last year for $200,000, was ordered demolished by the city last month due to erosion of the adjacent beach.
FOX Business has reached out to the homeowner for comment.
A beach house at 28 Sheep’s Pond Lane in Nantucket, Massachusetts, Tuesday, Jan. 14, 2025. The house, which was purchased last year for $200,000, was ordered demolished by the city last month due to erosion of the adjacent beach. (Keith Noble)
Vaccaro, also the owner of the property next door, told the Nantucket Current that he “was able to use it for a week with my family and kids in both houses, which was an invaluable experience, so it paid off in the end.”
“Unfortunately, the city wanted to demolish the house for safety reasons, and we complied with the city’s request even though the house was still structurally sound,” he reportedly said.
A beach house at 28 Sheep’s Pond Lane in Nantucket, Massachusetts, Tuesday, Jan. 14, 2025. The house, which was purchased last year for $200,000, was ordered demolished by the city last month due to erosion of the adjacent beach. (Keith Noble)
NANTUCKET BEACH HOMES STILL WANTED BY BUYERS DESPITE HIGH RISK OF BEING SWALLOWED BY THE SEA
A beach house at 28 Sheep’s Pond Lane in Nantucket, Massachusetts, Tuesday, Jan. 14, 2025. The house, which was purchased last year for $200,000, was ordered demolished by the city last month due to erosion of the adjacent beach. (Keith Noble)
The previous owners sold the house to Vaccaro for just $200,000 after receiving a “call out of the blue” from him, the Nantucket Current reported last year. Property records reviewed Friday list it as having an assessed value of nearly $1.3 million.
Before his offer, they weren’t listed for sale because they said they didn’t “want to sell to someone when you know a storm could destroy it next week,” according to the outlet.
Vaccaro it is stated in the press release to FOX Business in early July of last year, shortly after the house changed hands, that he had “no illusions that the house would stay put for more than a year, and he bought it assuming it would be in the water by the spring of 2025.”
NANTUCKET BEACH HOUSE IS FOR SALE AT AN ABSURDLY LOW PRICE, BUT THERE’S A CATCH
Coastal erosion is a phenomenon that many areas across Nantucket must contend with.
On the south coast, the island experiences annual beach erosion “in the middle” of 0.56 feet and 12.63 feet, the local government said on its website.
