A secluded waterfront compound on the north shore in West Tisbury changed ownership last month for $28 million, setting a new record for a single home sale on Martha’s Vineyard.

And although the transaction was between two trusts within the same family, the sale triggered a two per cent fee to the Martha’s Vineyard Land Bank, which added $560,000 to its income for January.

Both the buyer and seller are members of the Ziff family, heirs to the Ziff Davis publishing fortune. Started by William B. Ziff Sr. and a partner, Bernard G. Davis, Ziff Davis Publishing rose to prominence in the 1970s and 1980s publishing technology magazines under the leadership of the late William Bernard Ziff Jr., who later sold the company.

The 7.6-acre property at 271 John Cottle Road, located at Paul’s Point in Lambert’s Cove, was acquired by Paul’s Point Area Realty LLC, which lists as its manager Dirk Ziff, the oldest of William Bernard Ziff’s three sons. The same trust already owns an abutting 12-acre parcel.

The property was sold by SB Vineyard LLC, which lists as its manager Daniel Ziff, the youngest of the three Ziff brothers. SB Vineyard bought the property in 2002 for $15.2 million from the Susan Herr Family Trust.

A number of single family homes in Edgartown have sold in the $20 million range in the past few years, but few elsewhere on the Island.

Previously, the record sale price for a single-family home was in 2006 when the Hedley home in the Green Hollow section fronting the Edgartown harbor changed hands for $25.1 million.