The building at 31 Easy Street, just steps away from Steamboat Wharf, has long been the first establishment many people see when they arrive on Nantucket. Next week, the Select Board is meeting in executive session to discuss a potential acquisition of the prominent waterfront property that has been owned by Joseph “Todd” Arno since the 1970s.
The 3,500 square foot building has been a restaurant for most of that time – primarily as Schooners – but in recent years it has been vacant other than a few brief stints as a retail outlet, including when TownPool moved in during the summers of 2016 and 2019.
But the key location has attracted the eyes of several interested parties, including the town, the Steamship Authority, and the Land Bank. Town Manager Libby Gibson told the Current that an acquisition has been discussed “off and on” for years. Next week’s executive session could be a sign that those talks have grown more serious, and a deal is in the works.
“The idea would be an acquisition most likely through the town – with a ‘three-way’ contribution for the purchase,” Gibson said. “Details of that are yet to be worked out. For the town it would allow for the widening of that intersection and improving the sidewalk. The Land Bank and Steamship Authority also have uses.”
Arno did not return a message seeking comment, but his attorney, Ken Gullicksen, said he was aware of discussions among those interested parties, although he had not seen any formal plans.
“It’s not actively on the market, but that doesn’t mean it’s not for sale,” Gullicksen said. “We’re not actively looking for a buyer, but there’s been some interest. There haven’t really been formal talks, but I know there’s been some discussions with those parties.”
Gullicksen said he could not share an asking price for the property. The small lot, just .08 acres, is currently assessed at $2.9 million.
While the Steamship Authority’s communications director Sean Driscoll declined to comment, Nantucket Land Bank executive director Jesse Bell described a desire to work together with the town and the Authority on a potential deal given the mutual interest and possible benefits for each entity in acquiring the property from Arno. The Land Bank recently opened a pocket park along the Easy Street basin that abuts Arno’s property at 31 Easy Street.
“There has been a group recognition that we all have interests in this parcel and we would make more progress by working together,” Bell said. “There are no definitive plans at the moment, but clearly this is the island’s most critical gateway and improvements are needed for traffic circulation, pedestrian safety, and resiliency planning.”
Arno’s other downtown property at 41 Main Street, currently the home of the restaurant Lemon Press, is formally on the market with an asking price of $6.9 million. Arno said in an email late last year that the 6,800 square foot brick building is indeed for sale, and that the current triple net lease of the property ends tomorrow, January 15, 2022. Arno purchased 41 Main Street for just $90,000 back in 1972 and operated Arno’s restaurant there for decades.
The Select Board’s interest in 31 Easy Street is just the latest property that has been considered for acquisition by the town. Board members have also met in executive session to consider the purchase of the downtown NRTA bus station, also known as the Greenhound building, the downtown fuel tank farm property next to the Stop & Shop, the mid-island Craig property off Sparks Avenue, and the former Lightship Basket Museum on Union Street, among others.
