A new Equity Residence Club is being planned for Nantucket, Massachusetts, an island 30 miles south of Cape Cod which, according to Forbes Magazinehad the highest median property value in Massachusetts in 2006. Harborview Place will be offered in 1/8 shares ranging in price from $550,000 to $950,000. Three units will be available this June, with the remainder of the residences completed by late 2008 or early 2009.
‘Equity residence club’ planned
Harborview Place is new face on Washington Street
BY PETER B. BRACE INDEPENDENT WRITER
March 5, 2008 – Overshadowed by the Harbor House and Point Breeze developments on the other side of town, Harborview Place, on the corner of Commercial and Washington Streets, chugs along on schedule.
The seven-building property was purchased for $10.5 million on Sept. 15, 2005 from Nantucket Island Resorts by Time & Place, a Washington, D.C.-based company owned by Mitch Willey that specializes in private hotels. The former condos sit on .47 of an acre at 3 Commercial St. and .13 of an acre at 24 Washington St. and are being renovated into 10 luxury apartments. Click here to read the full article from the Nantucket Independent Online.