Martha’s Vineyard Fractional
Tuesday, August 22, 2006
The Perfect Combination:
Edgartown is beyond charming; it’s elegant, like so many other areas along the Massachusetts coast. So it’s little surprise with the soaring property values on the historic island of Martha’s Vineyard that someone (in this case Russell Urban and his company, ULF Edgartown LLC,) found a way to give a few more people the chance to own property at this highly desired summer retreat.
Within the next few weeks, Edgartown Residence Club will be open for business, with six luxury condominium fractional apartments. Ownership amenities will include exclusive use of an automobile while in residence, a personal concierge, a service to pack, unpack and store your private possessions, airport and ferry shuttle transportation, daily housekeeping and pre-arrival grocery shopping. Each of the maximum 72 owners will have up to 21 days of annual usage and entry pricing begins at just over $90 thousand.
Edgartown was the first colonial settlement at Martha’s Vineyard and has been the county seat there since 1642. Many of the existing private homes predate the whaling era. No doubt the early residents would have been amazed that some of these same homes today sell for upwards of $20 million. And no wonder fractional owners are anxious to own their piece of this for less than a hundred grand.