The Nantucket Anglers’ Club has reached a deal to buy the waterfront property at 32 Washington Street for $5 million from island resident Rick Kotalac.
The property on Nantucket Harbor, which Kotalac ran for decades as Brant Point Marine and later leased to island resident Mike Allen who operated the Tidal Creeks Ship Store, will eventually become the new home of the Nantucket Anglers' Club.
But first, the deal provides for a five-year period in which Kotalac will be allowed to occupy and lease the property. He told The Inquirer and Mirror he intends to lease the property to a tenant who will run it as a marine supply store during that time.
Kevin Martin, president of the Angler Club’s board of trustees, confirmed the club's acquisition of the Washington Street property and its plans to eventually vacate its current headquarters on New Whale Street where it has been for more than 50 years. That spot is owned by Steve Karp's Nantucket Island Resorts.
Martin confirmed the plan is to reconfigure the former Brant Point Marine building into a new headquarters for the Anglers' Club once the five-year lease back to Kotalac ends, rather than tear it down and build new.
The town (via the Select Board) and the Land Bank, which had a right of first refusal to purchase the property, met in an executive session last month and voted to decline the option to buy 32 Washington Street. The board, however, is interested in maintaining its right of first refusal under the new ownership.