“Truly a remarkable offering,” a recent Martha’s Vineyard real estate listing begins.
Talk about an understatement.
Gerald DeBlois, who created the non-profit organization Vineyard Youth Tennis, is offering a mostly undeveloped 266-acre property on the island for $92 million — more than twice the island’s record sale, the Vineyard Gazette reported.
The land includes rights to two Atlantic beaches and ownership of all developable waterfront on Big Homer’s Pond, according to the listing.
The listing suggests that “the opportunity awaits for the creation of a special south shore compound” in the town of West Tisbury.
A helpful mortgage calculator at the bottom of the real estate listing on the Web page suggests that the buyer would need an $18.4 million down payment and mortgage payments of $330,496 a month — at the low, low interest rate of 3.5 percent.
Thomas Wallace, the listing agent and president of Wallace & Co. Sotheby’s International Realty, has told multiple media outlets that several potential buyers have shown interest.
DeBlois, described as “quiet and private” in a 2001 article in the Vineyard Gazette, opened the tennis center in 2002 to offer instruction and court time to children.