A Martha’s Vineyard home associated with the national whiskey brand Uncle Nearest could soon be sold as the company battles with its creditors in court over allegations of defaulting on more than $100 million in loans.
The U.S. District Court in Tennessee federal court is considering the proposed sale of the Edgartown home on Codman Spring Road that has hosted parties for Uncle Nearest.
Uncle Nearest became a darling of the whiskey world after its founding in 2017, and grew rapidly. A limited liability company connected to the brand purchased the 2-acre property off Edgartown-West Tisbury Road in 2023 for marketing purposes.
The company was put into receivership last year after Uncle Nearest’s creditors claimed the company was not paying back several loans and overstated the number of whiskey barrels in its inventory. The lender, Farm Credit Mid-America, also said the limited liability company used to buy the home was never part of an initial loan agreement, a violation of the loan terms.
In an attempt to straighten out Uncle Nearest’s financials, the court-appointed receiver last week proposed selling the Codman Spring Road home. The receiver secured a realtor with Point B Realty and listed the home in January for $2.5 million.
Within a few weeks, the realtor had received a full-price offer from Jennifer and Sekou Kaalund, and had two back-up offers, according to court documents. The receiver, Phillip Young, has the consent of Farm Credit Mid-America, and has asked the court to allow the sale to pay back the creditors, his attorney wrote
Uncle Nearest CEO Fawn Weaver and her husband Keith Weaver have objected to the sale and much of the allegations made by the creditors.
In filings with the court, the Weavers say the home, which is owned by UN House MV LLC, is owned entirely by Keith Weaver, not the company.
“The [Martha’s Vineyard property] was purchased separately from Uncle Nearest in order to be in compliance with local regulations and ordinances applicable to Martha’s Vineyard and so that the property could be used as intended,” Ms. Weaver wrote on Feb. 26. “Farm Credit was fully aware of this.”
The receiver did not fully take on this assertion in his request to the court, but claimed the company was involved in the property.
“While the Receiver will deal with this in more depth in other pleadings, the Receiver will note that the real estate in Martha’s Vineyard was purchased using the Company’s funds and that all expenses have been paid by the Company,” he wrote. “In fact, as recently as December 31, 2025, Keith Weaver forwarded the tax invoice for the Martha’s Vineyard real estate to the Receiver for payment.”
The receiver has said that when he took charge of the company, the finances were in disarray and records were unreliable.
“[Uncle Nearest] was unable to make payroll,” the receiver’s attorney wrote to the court in February, adding that the company was only solvent because of financial support of Farm Credit Mid-America.
Ms. Weaver has been outspoken about the receivership hurting the company, and has been talking directly to customers through Instagram.
“There’s a lot of numbers out there floating about my company,” she said in a video on Saturday. “What’s clear is we’ve made a couple hundred million dollars, what’s clear is that I’m sitting on assets of over $150 million, what’s clear is that we are the most awarded bourbon and American whiskey around the world.”
The home on Codman Spring Road came under scrutiny on the Vineyard in 2023 for the large parties that were held there in support of the brand.
Neighbors complained that the property, which hosted gospel brunches and cocktail hours, was halting traffic and drawing large crowds. Neighbors also argued that the home was a commercial venture and not really a residence.
The parties were one of the impetuses for several towns to consider new regulations on events.
vineyardgazette.com