A historic waterfront estate overlooking Nantucket Harbour has changed hands for $42.5 million, setting a new record for the island’s residential property market. The sale of the property at 57 Hulbert Avenue surpasses the previous island record of $42 million, paid by Barstool Sports founder Dave Portnoy for his Monomoy property in 2023. According to The Wall Street Journal, ACK News and Nantucket property records, the estate was sold on November 5, 2026, after remaining with the same family for more than five decades. The transaction also generated $850,000 for the Nantucket Islands Land Bank through the island’s property transfer fee. Known as Blue Waters, the property is situated in the Brant Point neighbourhood and offers views across Nantucket Harbour. It was designed by architect William Edward Shepherd and built in 1937. The Fife family had owned the estate since 1972, with the recent transaction marking the end of its 54-year ownership.The property was sold by Andrew, Howard and Richard Fife, along with a Fife family trust. According to deed records cited by ACK News, the buyer was Stella Blue Waters LLC. The estate occupies approximately 0.62 acres and includes a 6,393-square-foot residence with eight bedrooms, a private tennis court and a two-car garage. The home has several features that make it stand out among the island’s luxury properties. Its waterfront setting provides direct beach and harbour access, while the main living room features a large central fireplace and a vaulted, ribbed ceiling designed to resemble the interior of a ship.A covered porch overlooking the water offers views of the harbour and passing boats. The estate also has a private red clay tennis court, adding to its appeal as a property designed for both recreation and waterfront living. Its location in Brant Point places it close to Nantucket’s harbour while offering panoramic views of the surrounding coastline.
How the sale generated $850,000 for the Land Bank
Beyond setting a new property record, the transaction will also contribute to local land conservation. Nantucket has a 2 per cent real estate transfer fee administered by the Nantucket Islands Land Bank, with the purchaser generally responsible for paying the amount at the time of the transaction.On the $42.5 million sale, the fee amounted to $850,000. The Land Bank uses revenue from property transfers to acquire and protect open spaces, preserve natural resources and maintain recreational areas across the island. The estate’s assessed value for fiscal year 2026 was approximately $21.9 million, considerably below its final selling price. The transaction also included a separate 3,093-square-foot parcel along James Street adjoining the main property.The sale puts 57 Hulbert Avenue at the top of Nantucket’s residential property market, surpassing the previous record by $500,000. It also highlights the continuing demand for rare waterfront estates on the island, where properties combining historic architecture, direct beach access and expansive harbour views remain particularly sought after.