The property, known as Great Point, is located in the prestigious Herring Creek Farm area of Edgartown. The complex occupies almost 32 acres (about 129 hectares) and has direct access to the Edgartown Great Pond and a private path to the beach. The seller is Boston technology entrepreneur and investor Michael Bronner, founder of advertising company Digitas.
Bronner acquired the individual parts of the property between 2019 and 2023 for a total of $19.125 million, then invested further in renovating the buildings and landscaping the grounds. The complex was put on the market in June 2026 with a price tag of $49 million.
Private Beach and Nearly 2,500 Feet of Waterline
Great Point includes a main house, a detached guesthouse, and several smaller outbuildings. The main residence was built in the 1970s and has since been extensively remodeled. According to the original listing, it is approximately 6,500 square feet, or approximately 604 square meters.
The complex also includes a guesthouse, detached villas, an organic garden, a chicken coop, exercise and recreation spaces, and a sauna.
One of the most prized features is nearly 2,500 feet of waterfront on Edgartown Great Pond. The property also has ocean beach access.
Herring Creek Farm is a small and highly gated community of about a dozen homes. Among the property owners in the area is TV host David Letterman. Significant portions of the adjacent land are protected from future development, further increasing the value of available waterfront properties.
Two Deals Total $43 Million
Property records show that the sale was actually made in two separate transactions. The property at 61 Butlers Cove Road was sold for $27 million, and the adjacent complex, which includes 57 Butlers Cove Road and lots on Forever Wild Way, was sold for another $16 million. The total value reaches $43 million.
The buyers are two different real estate trusts, and the identities of their beneficial owners have not been publicly disclosed.
This is an important distinction, as the deal was initially billed as a new all-time record for a residential property in Massachusetts. According to Banker & Tradesman, however, the record for the most expensive single-family home purchase by a single buyer remains the $42 million deal on Nantucket Island from 2023 involving Barstool Sports founder Dave Portnoy.
Island prices continue to rise
The sale comes amid strong growth in the luxury market on Martha’s Vineyard.
The previous record on the island was set in October 2025, when a mansion in Edgartown sold for $37.5 million. Just a few months earlier, another large property - Blue Heron Farm in Chilmark - changed hands for $37 million.
According to data cited by The Wall Street Journal, the median sales price of a home on Martha's Vineyard reached about $1.91 million in the second quarter of 2026, an increase of approximately 15% from a year earlier.
The trend shows a clear division in the American housing market. While high mortgage rates continue to limit mass demand, the wealthiest buyers remain significantly less dependent on credit financing and continue to seek rare coastal properties with a high degree of privacy.
At Great Point, it is the combination of large area, access to water, limited new construction and proximity to Edgartown that turns the property into an asset for which buyers are willing to pay tens of millions of dollars.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg