Lawlor’s Nantucket Palace Sold To… A Shadow?
A single-family, beachfront property at 15 Top Gale Lane in Nantucket was sold earlier this month for $19.2 million dollars. The seller? None other than Broadway Partners’ Scott Lawlor, once-owner of the John Hancock Tower in Boston.
It’s a primo property, worthy of a former titan of Boston real estate. The property’s listing on homefinder.com boasts of “A spectacular three acre, harborfront lot with phenomenal views, private beach, boat moorings, pool and floating swim dock. Full, finished basement with high ceilings, gym, theatre, family room, wine cellar; etc. Far too many features to list. An absolute must see property.”
Mr. Lawlor’s troubles with the commercial side of the local real estate market are pretty well known, and more than explain why he was looking to dump the property he’d bought in 2006 for $15 million. But don’t let that $19 million price tag fool you into thinking he escaped with a profit on this deal – after purchasing the property he began extensive renovations which were only 95 percent complete at closing, according to Homefinder.
But who could possibly have a spare $19 million to drop on a 10,000-square-foot pied-a-terre? Nantucket-based Realtor David Callahan, who represented the buyer, was cannily silent as to the identity of his client, and records reveal only the name of a shadow realty trust based in San Mateo, Calif. The name of said shadow realty trust? Conveniently, it’s “Shadow NT.”
But The Teller has its suspicions. The trustee named in the records is Mary A. Gamba. Not-so-coincidentally, one Mary Gamba is also the executive assistant to Charles B. Johnson, Chairman of the Board of Franklin Templeton Investments, a large mutual fund company based in San Mateo. Mr. Johnson was named in 2006 as one of Forbes’ 400 Richest Americans, with an estimated net worth of more than $4 billion, and for him that $19 million purchase price would be a mere bagatelle.
Whoever the purchaser, he’ll have plenty of room for the 17 grandkids Callahan said his client was looking forward to hosting.
