(Photo by Leon Bennett/Getty Images; Earth Explorer)
- Billionaire investor Barry Sternlicht's Nantucket beach house has been demolished due to erosion.
- Strict zoning rules and unstable land make it unlikely that Sternlicht will be allowed to rebuild.
- The ongoing erosion is causing property values to fall on parts of the exclusive island.
Billionaire investor Barry Sternlicht's Nantucket beach house is officially no more.