NANTUCKET,MASituated near Nantucket Sound, this house takes advantage of water views by locating the main living areas on the 2nd floor. Views extend in the opposite direction across a swath of land held in preservation. A one-story cottage originally sat where the new main house now resides. It was moved to the edge of the property and renovated into a guest house nestled into the peripheral landscaping, while sharing a courtyard with the main house.