Man's $899K bet on Nantucket cliff cottage: Still standing 5 years later

When Charles Fotopoulos bought a small cottage on Nantucket’s Sconset Bluff in September 2021, he knew the property came with a serious risk: the Atlantic Ocean was steadily eating away at the land beneath it.Fotopoulos, a Massachusetts car dealer, and his wife, Miglena, paid $899,000 for 93 Baxter Road, a 1951 cottage perched near the edge of the bluff. The price was notably low for Nantucket, where luxury properties can sell for many millions of dollars.Five years later, the cottage remains standing. But the amount of land separating it from the edge of the bluff has become extremely small.According to the Nantucket Current, only a few feet of ground now separate the rear of the home from a roughly 40-foot drop to the beach below.