EAST DENNIS WATERFRONT COMPOUND | RECORD SALE: $19,250,000
Over two generations, a New England family assembled a waterfront property of 62± acres fronting on Cape Cod Bay. The property is complex, with 5 ownership entities, 12 parcels, 3 dwellings, a barn with apartment, 2 additional barns, 3 additional building sites, a 5-acre spring-fed pond, more than 1,000 feet of sandy beach, and a network of fields, trails, and stonewalls.
LandVest analyzed the highest and best use of the land with 8 units as well as an “As Is” valuation, and 4 additional lot combinations. One of the challenging aspects of the appraisal process was complete or partial conservation restrictions on 7 of the 12 parcels comprising about 41 acres. In addition, the plans and valuations were useful in negotiating land swaps with a neighbor to resolve access easements and beach rights.
With detailed land planning and appraisal analysis as support, the property was brought to market in the spring of 2018 and attracted some of the most well-known high-net-worth families in the Boston area. The ultimate buyer was sourced by LandVest in the fall and the closing occurred in 2 phases over the next year.
The buyer intends to use the property as a family compound and maintain the buildable lots as open space.
LOOKING TO SELL THE FAMILY ESTATE?
LandVest provides sound advice that achieves exceptional results
Know What You Own: Sometimes it’s straightforward, sometimes it’s complicated. We know how to navigate from the single-family home to the multi-parcel, multi-owner, multi-residential estate.
Understand Highest and Best Use: Valuations, family considerations, regulatory limitations? Our top-class consultants can define it all for you and your family.
Make A Great First Impression: Go to market with the best position and presentation. Our brokers connect great people with great properties by knowing what people want and what your property delivers.
For more information on buying, selling or real estate consulting, contact: Stewart Young at syoung@landvest.com, or Jamie Crowley at jcrowley@landvest.com.
