Rare Cape Cod Multifamily Asset Sets New Pricing Benchmark in $19.3M Sale

BOSTON, MA—Matthews™, a commercial real estate investment services and technology firm, represented the seller in the disposition of The Residence at 850, a multifamily property located at 850 Falmouth Road in Hyannis, Massachusetts. Vice President Nick Jasinski facilitated the $19,300,000 transaction, marking the highest sale price for a multifamily property sold within the Cape Cod submarket in the last year.*

After developing the property in 2023, the seller, Standard Holdings LLC, brought the asset to market to capitalize on their investment. Despite economic volatility, rent control concerns, and changes in property management, Jasinski implemented a strategic marketing campaign highlighting the property’s stabilized performance and position within Cape Cod’s supply-constrained multifamily market. Targeting qualified multifamily investors, Jasinski directly sourced the buyer, Ezzi Property Group, led by Marc Abou-Ezzi, a local investor seeking to expand its multifamily portfolio on Cape Cod. The buyer was attracted to the property’s newly constructed design, stabilized performance, and long-term investment potential.

The Residence at 850 is a three-story, Class A multifamily property comprising 53 apartments, including nine one-bedroom and 44 two-bedroom units. The property features modern interiors with stainless steel appliances and in-unit laundry, along with amenities such as a fitness center, resident lounge, and outdoor gathering areas. Situated along Route 28, the property offers convenient access to shopping, dining, Cape Cod Hospital, and ferry service to Martha’s Vineyard and Nantucket.

“We’re very excited to get this one over the finish line after years of persistence and hard work,” Jasinski said. “This deal is special because we helped our sellers achieve their goal of selling a remarkable asset they built while identifying the right buyer to take it forward. The buyer plans to self-manage the property and continue providing much-needed housing on Cape Cod, where assets like this are rare. This sale further demonstrates Matthews unmatched presence in Boston’s middle-market multifamily sector.”

*Data Compiled from Boston MSA Sales Sold Within the Last Year | CoStar Group, Inc.

For more information, please contact Nick Jasinski or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.