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PENN sold Barstool back to Portnoy last month as part of a $1.5 billion agreement the Pennsylvania-based company landed with ESPN for a new sportsbook called ESPN Bet. Portnoy filed a defamation lawsuit against Insider in February 2022, claiming the outlet “knowingly disregard[ed] the truth.” The suit was dismissed in November. "My design philosophy is rooted in the belief that a well-designed home fosters clean, modern living," says Kotchen. "The firm's style highlights natural and local materials and integration of indoor and outdoor elements. Our design decisions are informed by the environment of the project sites, thus enabling us to apply our process to a variety of typologies and geographies."
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In 2015, The Wall Street Journal reported tunnels were becoming more common as a unique amenity for wealthy homebuyers. The properties at 72 and 68 Monomoy Road were sold in March 2016 by the Anathan family to two blind trusts for a combined $13.3 million. The existing dwellings were then torn down and the properties were completely redeveloped. Earlier this year, prolific property collector Dave Portnoy bought a humble ranch-style house in the Saratoga Springs neighborhood of Upstate New York, just steps from the area’s famed thoroughbred race track.
Dave Portnoy's $42 million Nantucket home breaks record
In the main house, it features "multiple sets of accordion glass walls evoking the feeling of being one with the harbor when open," the listing said. When reached for comment, both Dunlap and Engen confirmed they were involved in the sale. However, they declined to comment on whom the parties they represented were, with Dunlap saying the real estate company does not disclose details about clients. The 1.2-acre property features the main dwelling that’s connected to a guesthouse via an underground tunnel, as well as a recently finished pool. "In the big markets, people who are paying cash for $3 million homes want something that no one else has," Ron Syrnyk, an interior designer who had designed a tunnel to a wine cave for a client, told the Journal at the time.
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The prior record of $38.1 million, set in June, now seems like chump change in comparison. In the staircase, which is the first thing people see when entering the house, the team at Workshop APD installed a climbing art installation using barnacles. "We found the barnacles years ago and just didn't have a project where they fit," says Kotchen. "We were thrilled that this installation complemented the architectural reveals in the wall and added an organic element to the wall behind the staircase." We chatted with the architect about the spacious summer home—take the tour to keep the season alive all year round.
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Portnoy, who was accused of sexual misconduct and lost a defamation lawsuit filed against Insider, founded the sports blog Barstool Sports in 2003. He sold it to Penn Entertainment for $551 million, before buying it back in August for $1. Pampr provides pre arrival delivery of groceries, alcohol, gear & rental equipment via local vendors on Nantucket. Having launched in June 2022, the company has already reached 275 paying customers by the end of this past August. Shellie Dunlap of Lee Real Estate told WBZ-TV she represented both the buyers and sellers of the home, but said she could not give any details about their identities.
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This off-market deal has not only set a new record for Nantucket, but has also smashed records across Portnoy’s native Massachusetts, as property records show. Her clients, a husband and wife who are both originally from the South, were married on Nantucket, and later bought property on a rugged stretch of the island alongside an expanse of natural wetlands, set away from the main town. Though the construction was done from scratch, there was a desire to establish a strong sense of history in the home’s scale and interiors. “They wanted it to feel like a multigenerational home that had been there for a long time,” Martinez notes. For the architect, that meant research into the island’s early legacy as a Quaker fishing village. The Quakers lived and worked in a series of stripped-down 18th-century fishing shacks with a look that designers today might call modern.
Out on Madaket Beach on the western end of Nantucket, there’s no shortage of design restrictions, to be sure. But in designing a family’s summer retreat there, architect Andrew Kotchen, a partner in New York’s Workshop/APD, responded deftly to them all. Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. Portnoy is best known for Barstool Sports, the company he started about two decades ago. In August, the Massachusetts-native paid $1 to repurchase it, having previously sold it to PENN Entertainment for some $500 million, FOX Business reported.
Barstool Sports' Dave Portnoy Buys Home on Nantucket for a Record $42 Million - Newport Buzz
Barstool Sports' Dave Portnoy Buys Home on Nantucket for a Record $42 Million.
Posted: Fri, 29 Sep 2023 07:00:00 GMT [source]
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The compound boasts a main residence, a lavish pool area and separate guest quarters, all elegantly designed by renowned architecture and design firm Workshop/APD. "Without a doubt, the best part of the home is its open floor plan and access to the pool," says Kotchen. With Nantucket as a backdrop, it's unsurprising that this home turned out beautifully. "Aesthetically, overall the goal was to create a modern interpretation of a beach home using layered textures, pattern, and color," explains the architect. "When designing the living room, we knew the space would be the main communal space of the home. Because of this, we wanted it to be a bit more dramatic and impressive than the other rooms." "The home was designed with the idea that this space would be used as an extended family home," explains Kotchen, who based the home's design on his own family experience.
Nantucket, and other similar locations like Martha's Vineyard and Block Island, are known to have high costs of living. The company is targeting transient resort-style communities that are home to a large number of short-term vacation rental properties. They will be launching their first new market in November in a West Coast location with a high volume of short-term vacation rentals. And in summer 2024, they are aiming to expand to a new East Coast market in addition to Nantucket. Brady Wilson is the Founder and CEO of Pampr, a hospitality startup that is trying to transform the guest experience for vacation homes.
"My family and my sister's family both spend extended time on the island together. This house was designed to bring that multigenerational or group vacation home under one roof," he added. On the lower level, the light-filled kitchen and dining space flow seamlessly into the family room, smartly furnished with a combination of antiques and contemporary additions. Upstairs, the master suite and children’s room boast custom millwork pieces—like a stylish, dual-purpose desk and headboard in the couple’s bedroom—which allow for maximum function without impeding stunning views of Nantucket Sound and the surrounding natural landscape. Lee Real Estate called the sale “a new benchmark for residential real estate on Nantucket,” The Boston Globe reported. “I went from being able to afford renting for a day to a weekend to a week to a month to renting for the entire summer to buying a house to now buying a house beyond even my wildest imaginations. "Nantucket has always been my favorite place on earth," Portnoy posted to X, formerly known as Twitter.
The second-floor primary bedroom was envisioned as a space where a family with young children could stay. "The goal with this space was to create a serene room that took advantage of the second-floor view, as well as highlight many architectural details that make this home truly unique," explains the architect. The mansion and guest quarters have six bedrooms, nine full baths and two half baths among them, according to Lee Real Estate’s listing.
Nantucket is an affluent zip code off the coast of Massachusetts known for its quintessential New England charm, picture-perfect landscapes, and large, shingled family compounds. During the summer months, families flock to the picturesque island for sun-filled fun. The modern design probably isn't what you'd expect to find while strolling along the pebbled roads accented with hydrangeas, white picket fences, and beach cruisers—their building regulations are, in fact, quite strict. But while the locale is known for its preppy and nautical tendencies, one architect made it his mission to build a modern home for his extended family to enjoy while staying true to the surrounding landscape. NANTUCKET, Mass. — Barstool Sports founder Dave Portnoy reportedly purchased a waterfront mansion on Nantucket for $42 million -- the most expensive real estate transaction in the history of the island and the entire state.
The listing says there is a furnished beachfront main house and two guest quarters, all with "unrivaled harbor views from virtually every room, as well as the infinity pool and decks." "Nantucket has always been my favorite place on earth," Portnoy said in a post on X (formerly Twitter). To accommodate the large family, two suites are located on opposite sides of the home. "The first-floor primary bedroom was designed with an older couple in mind," explains Kotchen. "Not only is this space private, but it also includes a private study with sofa and large closet." To keep in line with the theme of the house, shades of blue and light wood tones were used throughout to replicate the beach and surrounding landscape.
Barstool Sports founder Dave Portnoy has bought a waterfront Nantucket estate for $42 million, according to published reports, a record price for the tony island. Completed around 2018, the spread is now spotlighted by a four-bedroom main house boasting casual yet elegant interiors highlighted by a double-height entry foyer displaying a sculptural staircase, plus bi-folding glass doors overlooking sweeping views of Nantucket Harbor. The 1.2-acre harborfront home on Nantucket reportedly purchased by Barstool Sports founder Dave ...
On the picturesque island of Nantucket, it's clear that the color scheme was informed by the surrounding beach landscape, coastal greenery, and shingle homes beyond. Discreet nautical accents were brought in through small accessories like rope-wrapped hooks. The term “Primary Bedroom” is now widely used to describe the largest bedroom in the home, as it better reflects the space’s purpose. Many realtors, architects, interior designers, and the Real Estate Standards Association have recognized the potentially discriminatory connotations in the term “Master.” Read more about our Diversity and Inclusion Pledge. When San Francisco–based interior designer Katie Martinez joined forces with a couple building their Nantucket summer home, she didn’t need to fall back on the shabby-chic aesthetic that dominates East Coast beach houses. Having been raised in New Jersey herself, Martinez instead drew on her childhood memories of summering out East in a barn that her great grandmother transformed into an idyllic, seasonal escape.
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