Home Port Restaurant owner William Holtham confirmed yesterday that he has accepted a signed offer from a private buyer for the Menemsha pondfront property that was the subject of a recent town meeting vote.

Citing the delicate nature of real estate transactions, Mr. Holtham said he would not reveal the potential buyer, purchase price, or any other details until the deal is closed sometime next month.

It is understood that the private buyer may be willing to turn around and offer the town of Chilmark another chance to purchase at least part of the landmark Home Port property at a reduced price.

At a special town meeting last month, an emotionally divided electorate of Chilmark voters turned down an opportunity to buy the restaurant and adjoining properties for $3.9 million. A corresponding Proposition 2 1/2 debt exclusion ballot question failed in a special town election last week by a vote of 56-134.

Mr. Holtham said previously that if the town turned down the offer, he planned to place the property back on the open market for $5 million.

Town selectman J.B. Riggs Parker said at the town meeting last month that he believed private funds could be raised to lessen the financial burden of a potential purchase on the average taxpayer.

Mr. Parker said yesterday that he had no comment on the Home Port matter at this time.