July is Luxury Month at Inman. Tune in as we survey the evolving luxury market, explore emerging trends, and talk to top producers and influencers in the ultra-luxury space about how they got where they are today and the insights they’ve gained along the way. The month culminates with the announcement of the expanded Golden I Awards live onstage at Luxury Connect (July 29-30) in Las Vegas.
The highest-priced property ever to be sold in Cape Cod has traded hands for $22.75 million, The Boston Globe reported on Thursday.
The seven-bedroom seaside estate sits on 3.66 acres and features 280 feet of oceanfront overlooking the Nantucket Sound.
Previously, a 9.6-acre property on Penzance Point held the record, which sold for $20 million in 2020.
The buyer of the estate at 835 Sea View Avenue in Osterville, Massachusetts, is James Langway, who operates several Toyota dealerships in Vermont and Rhode Island, Boston.com reported.
The last time the home traded hands was in 2011 for $4.5 million when medical product, aerospace manufacturing and oilfield services entrepreneur Amin Khoury bought the home.
Listing agent Paul Grover of Berkshire Hathaway HomeServices Robert Paul Properties told Boston.com that the estate is located in a “quintessential” Cape Cod neighborhood.
“Sea View Avenue is probably one of the most beautiful streets on the Cape and certainly is in Osterville,” Grover said. “It’s really quintessential Cape houses with fences and roses and some large estates overlooking the ocean.”
The home boasts large windows throughout and “virtually every room has ocean views and direct access to the outdoors,” according to the listing description.
Notable features include an attached guesthouse, a swimming pool, summer kitchen, 5,000-bottle wine cellar, golf simulator, gym, massage room, seven garage spaces and a separate staff house.
The primary suite also includes dual bathrooms, dual walk-in closets and a study. The home’s finished lower level, which houses the golf simulator and wine cellar, also includes a state-of-the-art media wall, bar and massage room.
John J. Hopkins of Frank A Sullivan Real Estate represented the buyer.
Grover said Cape Cod’s luxury market has seen about one sale per year above $15 million in the last five years.
“It’s been pretty consistent,” he told Boston.com. “I think it will continue that way. We will probably continue to see sales at this price point or higher.”
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