THE DEAL: A roughly 31.5-acre waterfront estate on Martha's Vineyard has sold for $43 million-a record for the island and the state of Massachusetts, property records show.

THE SELLER: Boston tech entrepreneur and investor Michael Bronner spent $19.125 million assembling the site between 2019 and 2023, before renovating and landscaping the compound. He listed the property for $49 million in June.

A fixture on Boston's tech scene, Bronner founded digital-ad firm Digitas in 1980 and sold it for more than $1 billion in 2007. He also founded the financial-rewards company Upromise, which was sold for $300 million in 2006. He couldn't immediately be reached for comment.

THE BUYER: Listing agents Maggie Gold Seelig of MGS Group Real Estate and Brian Dougherty of Corcoran Property Advisors declined to comment.

THE SPECS: Located in the exclusive enclave of Herring Creek Farm, the property has a renovated, roughly 6,500-square-foot main house originally built in the 1970s, plus a two-bedroom guesthouse and multiple cottages. The property sits on Edgartown Great Pond, an 890-acre body of water separated from the Atlantic Ocean by a narrow strip of sand. It has a private path to the beach.

THE MARKET: Herring Creek Farm has roughly a dozen homes, with residents including comedian David Letterman and investor David Malm. The prior sales record for Martha's Vineyard was set in 2025, when a waterfront estate in Edgartown sold for $37.5 million, records show.

Home prices on Martha's Vineyard have been rising. The median sale price was $1.91 million during the second quarter, up 15% from the same period last year, according to Sotheby's International Realty.