A Nantucket dock sold for $4.75M (boat not included)


An entity with ties to Eric Schmidt, executive chairman of Google parent company Alphabet, has purchased a boat slip in Nantucket for $4.75 million, according to The Boston Globe.

Located on the notoriously "preppy" island, the dock is long enough to house a 156-foot yacht, and it is one of three deepwater slips in the harbor.

Google Executive Chairman Eric Schmidt
Win McNamee | Getty Images

"It's such a rarity. There were multiple interested parties," Jen Shalley, an agent with Nantucket-based Fisher Real Estate who brokered the deal, told The Boston Globe.

The richest man in China is Wang Jianlin, the Chairman of the Dalian Wanda Group, with $26 billion.
China has more billionaires than US: Report
Richard Mellon Scaife in 1997
Giving by top 50 philanthropists drops 30%
Millionaires face 1 in 10 chance of being audited

Though Shalley did not name the buyer, Nantucket County property records show the 99-year lease on the dock was signed by a holding company that lists Schmidt's family investment office in Palo Alto, California.

Another officer in the holding company listed is Melissa Philbrick, executive director of the nonprofit ReMain Nantucket which Eric Schmidt's wife Wendy founded to preserve the island. Neither Schmidt's family office nor Philbrick immediately responded to requests for comment regarding the lease.

ReMain Nantucket was also unable to provide immediate comments to CNBC.

Eric Schmidt, who was also the former CEO of Google from 2001 to 2011, has been a longtime frequenter of Nantucket.

Read the full report here.