Inside $17.6 Million Renovation of Historic Martha’s Vineyard Legacy Estate

A historic legacy estate that has occupied the same lush corner parcel on Martha’s Vineyard for nearly 200 years has returned to the market for $21.5 million—after undergoing a jaw-dropping overhaul that not only expanded its footprint, but also saw its asking price increase by a whopping 440% in just five years.

The Edgartown, MA, property, which is known as the William Wilcox House, last traded hands in June 2021, when it was purchased for just over $3.9 million, having been listed for the slightly higher price of $3.99 million.

Its buyers then spent five years not only restoring and renovating the historic bones of the home, but also increasing its size, bringing a new level of luxury and opulence to the property, while ensuring that it retained all of the unique charm that first caught their eye.

The result is a stunning dwelling that offers almost four times the square footage of the original 1835 structure, without compromising its historic beauty.

“It’s essentially a brand-new house,” listing agent Alyssa Halisky of Wallace & Co Sotheby’s International Realty explains. “They took that shell and quadrupled the square footage.”

The original structure, Halisky says, dates back to a very different era for Edgartown, when it was first being built up by some of the country’s most prosperous sailers.

“[The house] was [built] around the whaling time in Edgartown when there were a lot of sea captains,” she notes.

But, much like Edgartown itself—which has a population of around 5,000 year-round residents—the home has been through a dramatic evolution in the years since its original bones were built.

When the sellers snapped up the main home in 2021 for $3,916,000, it was only 2,900 square feet. They embarked on a major makeover, quickly realizing the land’s full potential.

“The location is beautiful and it’s a double lot where they could build the dream home they had imagined,” says Halisky.

Not only has the footprint expanded to offer 7,598 square feet of living space, including 10 bedrooms and 15 bathrooms—the “guts” of the 7,058-square-foot main house are also new, including the foundation.

Other structures and amenities have also been added to the property; in addition to the nine-bedroom primary residence, there is now a pool, an outdoor spa, a poolside cabana, and a one-bedroom suite above the two-car garage.

“A rare legacy offering in the heart of Edgartown Village, this extraordinary in-town compound is among the largest on Martha’s Vineyard,” the listing notes.

However, to the outside observer, it would appear as though the entire property has been standing there for 191 years, thanks to the meticulous work of acclaimed architect Patrick Ahearn, who was tasked with ensuring that the renovations did not erase the historic charm of the dwelling.

“He’s one of the best architects on Martha’s Vineyard. Your quintessential New England homes are his specialty,” says Halisky.

Throughout the property, there are oak floors, nickel-board walls, and high-end appliances paired with “sophisticated hardware,” according to the listing.

There’s also easy access between the indoor spaces and outdoors, such as the living room’s screened patio.

Suited for entertaining or serving meals to a large group, the chef-grade kitchen features a plumbed Miele coffee bar, wine refrigerator, and custom brass-and-glass bar with a built-in ice maker. Also on the ground floor are two en-suite baths, plus a second living room, as well as a dining room.

Tucked upstairs is a primary suite with a private balcony and two “spa-inspired baths,” per the listing, along with three additional en-suite guest rooms. Tot-sized family members would likely stay in the third story’s nautical-themed bunk room with four built-in beds and a full bath.

Then, on the lower level are two more en-suite bedrooms, a wine cellar, and media room for even more options to entertain or relax.

Having poured so much time, energy, and money into the careful overhaul of the home, the sellers are now attempting to secure a very impressive profit on their investment; one that could total around $17.6 million, if they can secure an offer close to their asking price, albeit without totaling up the amount they spent on the renovations.

Still, Halisky believes that the property offers more than enough to lure in a buyer willing to pay such a premium—which is currently the second-highest asking price for a residential property on the market in Edgartown, according to Realtor.com® data.

The only pricier property is a 32-acre coastal estate located on the outskirts of the town that is listed for $49 million.

Halisky notes that the dwelling’s proximity to all that downtown Edgartown has to offer is just another of the home’s many charms; a property with this much living space where you can walk to the downtown’s shops, galleries, and restaurants, as well as Edgartown Harbor, is very rare, she explains.

Because of its size and multiple structures, she believes the home will likely attract a buyer who is hoping to establish a legacy compound where they can host multigenerational gatherings.

“The Vineyard is a gathering place—a second-home market,” she says. “We see [this as] a multigenerational family compound. It’s rare to see that many bedrooms in downtown Edgartown.”