Nantucket real estate.
Nantucket runs on a Hamptons-style framework but with two differences: the Nantucket Islands Land Bank fee is 2% (buyer-paid) with exemption rules that can apply to qualifying transfers, and the Massachusetts deed excise of $4.56 per $1,000 (~0.456%) is the seller-side analog to NY State transfer tax. Materially lighter on the seller side than Manhattan or the Hamptons — no mansion tax, no mortgage recording tax.
Nantucket closing cost calculators.
Nantucket Buyer Closing Cost Calculator
Land Bank fee (2%, subject to exemptions), MA-style title insurance, attorney representation (MA requires it), recording fees, and lender items. The Land Bank is the dominant line — but exemptions can apply and warrant attorney review before contract.
Nantucket Seller Closing Cost Calculator
MA deed excise (0.456%), broker commission, attorney fees, MA-specific items (smoke + CO certificate, municipal lien certificate), and release-of-mortgage recording. The MA framework runs materially lighter than Manhattan on the seller side — no mansion tax, no NYC RPTT equivalent.
Nantucket vs. the Hamptons.
The Land Bank — the Peconic CPF’s sister
The Nantucket Islands Land Bank (Mass. Acts of 1983 Ch. 669) charges 2% on residential transfers, buyer-paid, with the proceeds funding island land conservation. It’s structurally identical to the Peconic Bay CPF in the Hamptons — both are buyer-paid preservation funds set up to control build-out at iconic coastal markets.
The exemption mechanics are property- and use-case-specific — primary residence carve-outs, family transfer carve-outs, and various threshold rules. We don’t summarize them here because the rules are too specific to safely generalize. A correctly-applied exemption can save the full 2% on the qualifying portion. Verify with a Nantucket attorney before contract.
MA deed excise — the seller-side state tax
Massachusetts charges a deed excise of $4.56 per $1,000 of consideration (~0.456%) on every recorded transfer statewide. Per MGL Ch. 64D §1. Seller-paid by custom. On a $5M Nantucket sale, that’s about $22,800 — a fraction of the equivalent Manhattan stack (which would carry NYS transfer at 0.65% plus NYC RPTT at 1.825% = $124K+).
What MA shares with NY
- Attorney-led closings (MA is an attorney-only state)
- Title insurance is buyer-paid by custom on the island
- No flip tax
- No mortgage recording tax (unlike NY)
What MA does that NY doesn’t
- Required smoke + carbon-monoxide certificate (seller obligation)
- Required municipal lien certificate
- Final water-meter reading required for closing
Considering a Nantucket transaction?
For Manhattan clients with Nantucket exposure, the Land Bank exemption question is usually the first dollar-relevant planning conversation. The 2% on a $5M purchase is $100K — confirming exemption applicability before contract can move that to zero on the qualifying portion. A 30-minute consultation gets you the framework.
The Roebling Team at Compass executes transactions directly in Manhattan. For Nantucket buyers and sellers, we collaborate with Compass agents in Nantucket via referral — clients work with the best on-the-ground representation while keeping the analytical framework consistent across markets. This calculator is an informational research tool, not solicitation of representation.
For trans-market clients (Manhattan + Nantucket portfolios) or to discuss your specific transaction, schedule a consultation. Where appropriate, we’ll introduce you to a vetted Compass agent in the local market.