A COSTLY GOOGLE SEARCH “Still Crazy After All These Years” would certainly apply to Nantucket’s real estate market. For the first six months of 2005, total sales were 23 percent ahead of last year, totaling $616 million. The winner among this year’s big spenders: Google’s chief executive, Eric E. Schmidt, whose holding company paid north of $16 million for a property that overlooks the Nantucket harbor. Mr. Schmidt declined to comment, but the seller, Doug Cassity, whose wife’s construction company remodeled much of the home, said of the transaction: “It was kind of secretive. We met in parking lots and stuff. I guess Eric Schmidt didn’t want people to know he was buying. He thought the price might go up.” Mr. Cassity said his wife, Rhonda, was proud of the sale. “The house doesn’t have a swimming pool,” Mr. Cassity said. “It’s not on the water, and has no acreage. She is in the construction business and she had basically built it. It wasn’t even on the market when she got a call.” what will happen to these properities or the profits made off of them?
Dec 5, 2022 12:00 pm – 1:00 pm