Photos Reveal How Crumbling 1700s Nantucket Stable Was Transformed Into $4 Million Vacation Retreat With a Lucrative Potential

The tiny island of Nantucket has become a haven for wealthy vacationers in recent years—but behind the glossy holiday homes and elegant boutiques lies a much more humble history that dates to the days of tiny fishing villages and farming communities.

Much of that history can still be found in the bones of the traditional properties dotting the Massachusetts town, but perhaps none boasts such a rich and interesting past as 25 Broadway.

Originally built as a stable in the 1700s, the property incorporated a small fisherman's cottage and barn around 1880.

Over the years, the structures evolved into a general store, a hair salon, a private residence, and finally a luxury vacation duplex, which is rented out for more than $12,000 a week during the high season.

Most recently, the reimagined residence—which has been booked almost continuously since it was opened, even as the freezing nor'easters blow—changed hands for $3.9 million, heralding the start of the next chapter in its fascinating story.

"It's an ideal getaway in the winter, for those seeking the quiet and charm of Sconset Village," says George N. Vasvatekis, the real estate broker and developer responsible for the recent renovation of the property, which sits just a few steps away from the scenic beach, a popular tourist destination in the summertime.

Vasvatekis sought to retain the building's original charm when he reconfigured it into two residential units: a three-bedroom, three-bathroom apartment, and a cozy one-bedroom, 1.5-bathroom rental.

With a little expansion, the living spaces now total 2,105 square feet.

It is a far cry from the crumbling, dilapidated structure that Vasvatekis came across in June 2015, which he purchased for $800,000.

He saw great potential in the building, despite the conventional wisdom in the area that dictated that all construction projects would come in at "double the budget, double the timeline."

He ended up putting over $2 million into the property and spending about three years to perfect it. But he concedes it was worth every penny and every minute spent.

The home itself was no simple fixer-upper. He remembers stepping through the front door for the first time, and having to take a substantial step down because the house was sinking—there was virtually no solid foundation holding it up.

That would eventually require hoisting the property up on temporary platforms, then digging and pouring an entirely new foundation.

Because of the home's proximity to others in the area, he says his team needed to have geotechnical engineers on hand to monitor the vibrations in the ground to make sure other structures weren't affected by the construction.

Vasvatekis was also committed to salvaging as much of the original materials a possible. He used original bricks from the property to build a new fireplace where an old one once stood. He notes that his team made sure the original brickmaker's imprint was visible.

The ceiling in the living room is fashioned from the home's original wood planks, and the beams are made from salvaged wood.

There is one surviving window from the original structure, and that's used inside, over the bookshelf. But it served as the inspiration for the new exterior windows.

Speaking of windows, there is one unusually large one near the front entry. It once served as a show window, when the building was a general store. It now lets plenty of light shine into the dining room, which is rare in these period homes, which traditionally had fewer and smaller windows.

Vasvatekis and his team thought it would be a fun touch to duplicate the structure's store sign. But to mount it on the roof where it originally stood, they had to get permission from local officials, promising that the home would be used for residential, not commercial purposes.

It turned out to be a uniquely stylish touch.

The structure's location needed no enhancements. Vasvatekis explains that it's situated just steps from the famed Sconset Bluff Walk, which runs along the water to the lighthouse.

"Hundreds of people traverse the bluff walk every year," he says.

He notes the home is within walking distance of the beach, as well as to the quaint village, which has a small market, a wine shop, a cafe, and a few other stores. The larger town of Nantucket is about 7 miles away.

All in all, the property proved to be a lucrative investment for Vasvatekis, who earned close to $2 million in profit after selling the home on Sept. 30, 2025—although not quite as lucrative as he had first hoped.

The renovation expert initially listed the dwelling for $4.39 million in November 2023, but was forced to lower that price several times before finally landing on a buyer.

Luckily, though, he had plenty to occupy his time, focusing his efforts on the other renovation and restoration projects he was involved in around the local area.

"During the period when I was leading the restoration of 25 Broadway, I was also involved in several other historic redevelopment projects," he says.

These included the impressive Post Office Square project in Plymouth, MA, where he contributed to the redevelopment of a former U.S. post office as a 16-unit mixed-use waterfront property.

He was also working on the Jenkins Block project in Whitman, MA, which transformed an 1890s building into attractive storefronts with eight residential units above.

The real estate professional also had ample opportunity to test the Sconset property's potential as a rental before putting the home on the market.

Vasvatekis finished the project in 2018 and then rented it out to vacationers for several years. Then, in late 2025, he sold it for the aforementioned $3.9 million price.

He's currently looking for a renovation project of a more personal nature. New England born and bred, he'd like to find a historic residence he and his bride can live in for some time.

They met on Nantucket and were married not too long ago in the Nantucket Town Hall. They're eager to write a bit of their own history on the storied island.