$7.9 Million Price Tag For Surfside Hostel Is A “Rip Off”
Maureen Searle •
One has to suppose that Blue Flag Partners has no shame.
They purchase the property for $50,000 more than the bid from the Egan Maritime Institute, on what anyone with a brain would guess inside information from someone associated with the Egan Institute, and now they are about to sell the property to the town for twice what they paid for it? How can this be allowed? Isn’t anyone else outraged?
Conflict of interest cannot be avoided in Nantucket where everyone it seems wears two or more hats but a line, an ethical line, has to be drawn somewhere. At the very least, the town should require an itemized list of the improvements on the property that Blue Flag has made. Otherwise it is a rip off.