This Gigantic Nantucket Estate Can Be Yours For A Bargain $35 Million
May 30, 2014, 05:33 IST
The owners of the most expensive estate on Nantucket are having a tough time selling.
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After several price-cuts, the property is now being offered for $35 million, down significantly from its initial asking price of $59 million, Curbed Cape Cod reports.
The estate, called Swain's Neck, is now being sold as a 56-acre lot. It had included 70 acres when it first hit the market back in May 2012.
Swain's Neck is being sold by the estate of the late Russell Dale Phelon, who made his fortune in the engine electronics business. It is listed with Great Point Properties.
In addition to a 7,800-square-foot mansion, the estate has two moorings and two gated horse pastures.
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