SELL BUY PROPERTY

The real estate news out of Boston is that former first daughter Caroline Kennedy—recently selected by President Obama to be the ambassador to Japan—has heaved two separate and undeveloped parcels on the blue-blooded resort island of Martha's Vineyardon the market for a total of $45,000,000.

The smaller parcel—39.1 acres with more than 1,000 feet of frontage on Squibnocket Pond and over-the-dunes view of the Atlantic Ocean—has an asking price of $20,000,000. The larger, nearly 54 acre beach front parcel carries a $25,000,000 price tag.

The two parcels were originally purchased by Miz Kennedy's mother Jacqueline Kennedy Onassis as part of a 366 acre purchase she made back in 1978. According to The Martha's Vineyard Times, in 2006 the original 31 separate parcels acquired by the former first lady were combined and reconfigured into seven sprawling parcels, the largest being 106 acres and the site of Caroline Kennedy Schlossberg's pond-front compound. Three equal-sized lots were reserved for the three Kennedy-Schlossberg children, a fifth was "declared forever non-buildable, to preserve the coast environment," and the remaining two, those that are now for sale, set aside and allowable for sale to pay taxes and/or other expenses.

aerial image: Bing