Beetlebung Farm, the iconic small farm near the Chilmark town center that has been held by the Fischer family for generations, changed hands this week for $2.4 million.

The sale closed on Tuesday. The buyer is The Farm Group, a trust with an address in Greenwich, Conn., according to land records. Principals in the trust are believed to be John S. and Amy S. Weinberg, who own a home in Vineyard Haven. Mr. Weinberg is chairman and chief executive officer of Evercore, an investment bank. Together they have a foundation that supports education and youth, health, the environment and arts and culture.

Old stone walls line the property.

Jeanna Shepard

Old stone walls line the property.

Jeanna Shepard

The property went on the market in September with an asking price of $2.5 million.

The sellers are the four children of the late Albert O. (Ozzie) Fischer Jr.: Albert O. (Bert) Fischer 3rd, Marie Scott, Douglas Fischer and Suzanne Fischer.

Speaking to the Gazette the day after the sale, Bert Fischer said the new buyers plan to keep the property as a farm and also keep the name Beetlebung Farm.

“I feel very good about the new buyers — they seem genuine and are very honored to be the new stewards of the farm,” Mr. Fischer said. “They want to keep the family history and have some great ideas, they want to work with the younger generation of farmers, keep the gardens going and create a learning hub for farming.”

Julie Flanders of Flanders Real Estate in Chilmark, a longtime Fischer family friend, handled the sale. The town of Chilmark was an interested buyer from the start but ultimately was unsuccessful, even though it met the final price, Chilmark selectman James Malkin said. “The selectmen were very eager to make this acquisition for the town. We were not successful in our bid,” Mr. Malkin said. “The town met the price that the property was eventually sold for, but the price as well as the conditions requested by the seller had to be approved by town vote. Our offer was not accepted.”

He called the farm an important property. “It’s one of the few remaining properties in the center of town that is adjacent to what we call our town center campus. It’s very important to the town and we were eager to acquire it,” Mr. Malkin said.

The farm includes 5.7 acres spanning South and Middle Roads in the rural village known as Beetlebung Corner. The Chilmark town hall, fire station, Community Center, library and elementary school are all situated nearby. The landmark Keith Farm with its sweeping distant views of the Atlantic Ocean is an abutting property.

Ozzie Fischer bought the land in 1961 and farmed it until his death in 2011. Over the years he built up the soil and grew prolific vegetable gardens and fruit trees, including espalier pear, peach and apricot trees. “Not living in America. There’s still the water between me and it. That’s what I like,” he said about living on the Vineyard in a 2000 interview with the Martha’s Vineyard Magazine.

Ozzie inspired generations of young farmers, including his own children and grandchildren, who subsequently carried on farming traditions on the property.

Daughter Marie Scott farmed Beetlebung for many years, and in more recent years grandson Chris Fischer, a chef, took over the farm. His Beetlebung Farm Cookbook won a James Beard award in 2016. This past summer granddaughter Lydia Fischer ran the farm, growing and selling vegetables to restaurants and running a booth at the West Tisbury Farmers’ Market.

Family members said the decision to sell was wrenching but necessary following years of care for their mother Regina, who lived at home on the farm until her death in August at the age of 103.

Bert Fischer said he was grateful for the many expressions he received after he posted a reminiscence about the farm and his father and mother on Facebook Tuesday night.

“The soil is what bound our family — it kept us all very close,” he said.

“My siblings and I and the rest of the family are relieved and pleased that the property is going to be well cared for by people that I think will have the same love and feelings for the soil.”