New England’s most expensive home is now on sale. Located on the Massachusetts island of Nantucket, it belongs to Russell Dale Phelon, the owner of the R.E. Phelon Co., a little known company which manufactures engine electronics. Phelon, who died of brain cancer in March had purchased the property, a vacation home, in 1997 for $7.15 million. Named New England’ most expensive home then, it continues to be the most sought after and an extravagant real estate property in the history of New England’s luxury estates. The 69 acre luxury home is now available for an exorbitant $59 million.
Also known as the Swains Neck Compound since it is located on the private peninsula which was once popularly referred to as the Swain’s Neck. The property has been listed by Maury People Sotheby’s International. Gary Winn, the listing agent with Maury People Sotheby’s International while revealing details about the property has stated that, “there hasn’t been anything like this available on Nantucket in years.”
Nantucket’s Most Luxurious Property
According to Winn, Massachusetts highest sale every year are usually form Nantucket for it is after all a celebrity neighbourhood. Everyone from billionaires to entrepreneurs like Google’s Eric Schmidt and also Senators like John Kerry vacation every year in Massachusetts most exotic and private locations. Over the years the Nantucket has also garnered the attention of many foreign buyers from England and Switzerland. Winn is confident that the property will attract many buyers for it is “so unique.”
If the Swain’s Neck which actually sits on the Polis Harbour is sold for its asking price it will easily be the island’s most prestigious property as the most expensive home in Nantucket was sold for $27 million and the priciest purchase in the state has been the Greenwich estate which was sold only for $39.5 million. Phelon’s vacation home is about to set new records in the world of luxury estates by quoting a price which is 725% more than its purchasing price fifteen years ago.
The estate’s sprawling location is the chief reason behind the whopping selling price. Gary Winn describes it as a “spectacular house on an unbelievable piece of land.” The original house was turned down and rebuilt by the Phelon family soon after they purchased it. They used the best designers to transform the compound with a huge acreage into a magnificent 21st century palace. The entrance to the vacation houSe may not be grand but it sure is unique and exclusive. After crossing a wooden bridge over a salt marsh you reach an electronic gate and pass through a gate which has been given the look of a barn.
Once inside the compound you will be greeted by sprawling vast green stretches of land spread across the estate. While driving up to the estate, there are also two pastures that were used by the Phelons for carting their horses. The Swain’s neck also boats of a private beach, a waterfront and a sports area with a tennis court and three boat moorings.
The insides of the house are as lavish with a living room that almost looks like an atrium and a media room. The four en-suite bedrooms, a master bedroom and the kitchen with its granite counter tops, a huge oven and a two panelled refrigerator will give all of its buyers an overwhelming experience. The estate also has an office building which is octagonal in shape. The property accommodates a two-bed room guest house, a boathouse and a main house.
The only thing missing from this well irrigated lush piece of land is a swimming pool. Although the private beach makes up for all the water adventures but the owners have said that due to the property’s expansive size many other amenities can also be added.