An oceanfront Nantucket home that sold for just $200,000 six months ago was knocked down by work crews this week after it was condemned due to beach erosion.
The home at 28 Sheep Pond Road, once assessed at $1.9 million, was purchased in June for $200,000 by the owner of the house next door. It was demolished on Tuesday after being condemned by the town, the Nantucket Current reported.
The property had lost another 10 to 20 feet of the coastline since Don Vaccaro purchased it last year, the Current reported. He told the news outlet that owning the house for six months cost him $400,000, although he was able to rent it for some of that time.
“However, I was able to use it one week with my family and kids in both houses, which was a priceless experience, so it was worth it in the end,” Vaccaro told the Current.
Built in 1979, the 1,783-square-foot Colonial-style home was assessed this year at more than $1.9 million, according to town records. A couple bought the home in 1988 but the Atlantic Ocean steadily ate away at the bluff on which it was built.
The Sheep Pond Road area, in the southwest part of the island, has been experiencing erosion at rates of 10 to 15 feet per year on average for many decades, a town official told the Globe last summer. About a dozen homes in the area have disappeared off the map, he estimated.
John R. Ellement can be reached at john.ellement@globe.com. Follow him @JREbosglobe.