A weeklong Cape getaway could now run you six figures — at least for the renters of one particularly opulent Nantucket estate.
The seven-day rate for the beachside compound at 94 Tom Nevers Road, located on the southeast side of the island, clocks in at a whopping $100,000 for the remainder of the summer season, according to its listing on the website of local agency Jordan Real Estate.
It’s the priciest listing currently on Jordan Real Estate, and may be the most expensive short-term rental in the island’s already-famously exorbitant vacation rental market, according to the Nantucket Current, which was the first to report news about the property.
Despite the turmoil in the island’s short-term rental over the past year, a new Nantucket vacation rental has topped what is believed to be a record:
— Nantucket Current (@ACKCurrent) June 20, 2024
$100,000 per week 😮https://t.co/b2dPpzQhWi
The property comprises a six-bedroom main house and a two-bedroom guest cottage, a pool, private beach stairs, and an outdoor kitchen. The lot on which the estate was built sold for $3.25 million in 2018, to a limited liability company run by managers based in New Jersey, according to public records.
To put that the property’s price tag into context: Renting it would eat up over 70 percent of the median income that a Nantucket household earns across a full year, per the latest Census data. Meanwhile, the median daily rate for a three-bedroom short-term rental there in July of 2022, was $988, or just under $7,000 a week, according to an analysis done last year by the UMass Donohue Institute.
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News of the sky-high rate comes as the island continues to wrestle with regulation of its sizable stock of short-term rentals — a hot topic for years among leaders and residents of the exclusive, ritzy island.
In May, voters on the island once again shot down a measure that would have amended the town’s zoning code to permit short-term rentals in all residential districts. Proponents of the measure argued it would support the island’s tourist-heavy economy as well as provide income to homeowners.
Opponents, on the other hand, said a proliferation of short-term rentals would squeeze the town’s already exorbitant housing stock. (The median sale price for a single-family home in Nantucket County for the year so far is $2.95 million, according to real estate data firm The Warren Group.)
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The online property listing shows it’s already booked for portions of July and August.
Dana Gerber can be reached at dana.gerber@globe.com. Follow her @danagerber6.