Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Us
BACK TO TOP
Chris Phaneuf
INVESTMENT SALES
MORTGAGE BANKING
Senior Managing Director
617.648.4191
chris.phaneuf@berkadia.com
MA Principal Broker Lic #9032841
Boston Office
125 High Street, Suite 1712 | Boston, MA 02110
Adam Dunn
Managing Director
617.648.4192
adam.dunn@berkadia.com
MA RE Broker Lic #9553106
Nick Jasinski
Director
617.648.4189
nick.jasinski@berkadia.com MA RE Salesperson Lic #9569931
Jackie Meagher
Senior Director
781.990.0159
jackie.meagher@berkadia.com
The Offering
Residence at 850 is a luxury apartment community that was recently delivered in the growing submarket of Hyannis, Massachusetts. The property offers (9) one-bed and (44) two-bed condo-quality apartments with top-of-the-line unit amenities. With current lifestyle trends leading renters to gravitate toward highly-amenitized communities, Residence at 850 establishes itself as a best-in-class option for these renters, outfitted with spacious units and luxury on-site amenities.
The overarching theme of reduced supply relative to the demand in markets throughout New England strongly persists in the Cape Cod submarket. With local municipalities in the region emphasizing environmental and cultural preservation, development of new projects in the area is scarce. This has further constrained supply, allowing investors to expect little oncoming competition in the future. Under these market conditions, the property performed exceedingly well.
850 Falmouth Rd | Hyannis, MA 02601
DOCUMENT CENTER
DOCUMENT CENTER
UNITS: 53 | YEAR COMPLETED: 2023
Contact
Photo Gallery
Investment Highlights
The Offering
Doc Center
Privacy
Terms of Use
Contact
Photo Gallery
Investment Highlights
The Offering
Privacy
Terms of Use
Document Center
Distinctive, Class A Living
1
Residence at 850 is a luxury Class A apartment community in the bustling submarket of Hyannis. The thoughtfully designed units offer contemporary finishes, gourmet kitchens, and a washer and dryer in every unit. Community amenities include ground parking, a fitness center, bike storage, a dog park, and a common patio area with grills and fire table.
1
TROPHY ASSET IN SUPPLY-CONSTRAINED CAPE COD HOUSING CRISIS
2
Historically low apartment availability and residential listings have created a housing crisis on Cape Cod, leaving residents unable to find places to live. One Cape Cod town saw a lottery for 50 affordable units and received about 600 applications, proving immense apartment demand exists, with little supply on the horizon. Recent large-scale apartment plans have been met with resistance from local groups and trusts, ultimately canceling the plans to create much needed housing. This lack of supply has placed upward pressure on rents, and driven home prices up dramatically.
2
High Barrier-to-Entry
3
Not only is the barrier to entry high for multifamily development projects, but the median price for a single-family home in Barnstable County was $682,500 in January 2024. This forces would-be-buyers into renting, which boasts a similar supply issue. Together, these trends drive immense demand for luxury products such as Residence at 850.
3
Excellent Access
4
Located directly on MA Route 28, Residence at 850 offers tenants unmatched access to the Cape Cod Mall, Cape Cod Gateway Airport, neighboring towns such as Centerville or West Yarmouth, ample shopping, dining, and much more.
4
Visit Doc Center
Visit Doc Center
INVESTMENT HIGHLIGHTS
PHOTO GALLERY
Visit Doc Center
850 Falmouth Rd | Hyannis, MA 02601
photo gallery
investment highlights
the offering
MENU
Terms of Use
Privacy
CONTACT
DOCUMENT CENTER
Sean Daly
Associate Director
781.990.1748
sean.daly@berkadia.com