A businessman knew buying a Nantucket beach house was risky. 6 months later, it’s gone and he regrets it.

A businessman knew buying a Nantucket beach house was risky. 6 months later, it’s gone and he regrets it.
Erosion has come for yet another home on the billionaire hot spot island of Nantucket.
A house last purchased in July was demolished on Tuesday.
Buying on certain parts of the wealthy island has become a gamble as weather patterns intensify.
Just over six months after businessman Don Vaccaro signed the paperwork on his new property on Nantucket’s coast, the beach house is no longer.
On Tuesday, the three-bedroom home was demolished after being condemned by the town after the coast eroded to within five feet of the structure, according to a filing by the town’s conservation commission. Just last year, the property was valued at nearly $2 million by the town’s assessor. Vaccaro spent only $200,000 on it, but its upkeep cost several hundred thousand more.
Vaccaro says that in hindsight his purchase of 28 Sheep Pond Road was a