Erosion Crisis: Billionaire CEO Forced to Raze Nantucket Beach House – What Happens Next Will Shock You
Nantucket, Massachusetts – The coastal erosion along the Nantucket coast has led to the difficult decision by Starwood Capital Group CEO Barry Sternlicht to demolish his beach house. The billionaire, who has owned the property for over a dozen years, made the choice amid the significant loss of beachfront due to severe erosion caused by hurricanes in 2020 and subsequent worsening conditions. According to reports, Sternlicht’s 1,800 square feet beach house with three bedrooms had …