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The Graves Light at the mouth of Boston Harbor is being converted into a summer home by Dave Waller, who in 2013 paid a record $933,888 for the structure. The lighthouse was made available through a GSA auction. / Courtesy Randy Clark Photography
An ocean view The market in lighthouses is limited, but due to the history of the structures, the challenges of renovation, and the romantic locations, there’s plenty of takers.
By RICHARD MASSEY Managing Editor
private buyers. Most become museums, but at least one – the Graves Light at the mouth of Boston Har- bor – is being converted into a high-end summer home. The program, administered under the National His- toric Lighthouse Preservation Act, thus far has dis- posed of 121 lighthouses, with 68 going into stew- ardship, and 53 being sold outright to buyers for a combined $5.7 million. Most recently, the Southwest Ledge Lighthouse, the Greens Ledge Lighthouse, and the Penfield Reef Lighthouse, all in Connecticut, were offered up to the public via online auction. Bidding on the Chesa- peake Lighthouse in Virginia concluded in July. Located primarily along the East Coast from Maine to Florida, lighthouses have also been con- veyed throughout the Great Lakes region, and in
T he market in historic lighthouses might be niche at best, but the ongoing sale and convey- ance of these coastal properties present unique op- portunities for architects, engineers, and investors who are willing to work with one-of-kind struc- tures in challenging locations. “It’s a ton of fun, and it’s all I can think about. It’s the adventure of a lifetime.” Offered through the General Services Admin- istration, the governmental agency that over- sees surplus properties, the lighthouses end up in the hands of nonprofits, local governments, and
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