Barry Sternlicht's Nantucket property experienced severe erosion, requiring the home to be demolished.(Photo by Leon Bennett/Getty Images; Earth Explorer)Billionaire investor Barry Sternlicht's Nantucket beach house has been demolished due to erosion.Strict zoning rules and unstable land make it unlikely that Sternlicht will be allowed to rebuild.The ongoing erosion is causing property values to fall on parts of the exclusive island.Billionaire investor Barry Sternlicht's Nantucket beach house is officially no more.Excavators demolished the home on Hummock Pond Road this week after a series of storms severely eroded the property.
Comment on Billionaire's million-dollar Nantucket beach house has officially been swept away
mberg@businessinsider.com (Madeline Berg,Dan Latu), Business Insider
Thu, 04/25/2024 - 10:12am
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