Sold! Jimmy Cagney's Former Edgartown Home to CarMax CEO

The former Martha's Vineyard summer home of actor James Cagney has changed hands for the first time in more than 60 years.

According to Dukes County land records, members of the Vietor family that has summered for generations at 29 South Water Street, Edgartown have sold the property for $7,900,000.

The new owners are Thomas J. Folliard, 48, and his wife Mary. Folliard is president and chief executive officer of CarMax, an online site for buying and selling motor vehicle. According to Forbes, his total earnings from the company in 2011, including salary, stock and option awards and other compensation, was $5,908,832.

According to Zillow, the Folliards' new Edgartown home was built in 1934 and owned by Cagney from 1948 to 1952. It has 11 bedrooms and 10 bathrooms in more than 6,00 square feet of living space on a quarter-acre lot and includes a dock.

The online listing continues:

• "Sited under the shade of the Pagoda tree and less than 100 yards of Main Street, this prominent waterfront residence with dock on Edgartown harbor is indeed a special offering. 
• The house lends itself toward use as a generational meeting place, with 3 levels of living space and 11 bedrooms in total. 
• The property offers wide-open views of the inner harbor, and looks east/southeasterly toward Chappaquiddick and Katama Bay. 
• Particularly stunning are the views from the 2nd level decking and upper level living areas. 
• In the rear of the home is a private lawn, extending between the home's brick patios and the waterfront. 
• The dock includes water, and extends approx. 145' from the shore. 
• Hollywood actor James Cagney owned this property from 1948 to 1952, and the property has remained under the current ownership for over 60 years."

Follow our Real Estate group to keep up with the latest news about homes and land for sale on the Vineyard. Other recent Sold! features:

• Top Edgartown Architect Buys 2 Aquinnah Homes
• Lobsterville 2-Bedroom Contemporary
• 10-Bedroom Chappaquiddick Mansion
• Custom-Built Vineyard Haven Four Bedroom
• Obama Chums Buy Martha's Vineyard Home

Martha's Vineyard Real Estate Listings from Zillow >>

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