Billionaire's million-dollar Nantucket beach house has officially been swept away
Barry Sternlicht's Nantucket property experienced severe erosion, requiring the home to be demolished.
(Photo by Leon Bennett/Getty Images; Earth Explorer)
- Billionaire investor Barry Sternlicht's Nantucket beach house has been demolished due to erosion.
- Strict zoning rules and unstable land make it unlikely that Sternlicht will be allowed to rebuild.
- The ongoing erosion is causing property values to fall on parts of the exclusive island.
Billionaire investor...
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