Colliers Meredith & Grew has brokered the $21.1 million sale of Wychmere Harbor Beach & Tennis Club and Wychmere Shores Condominiums to Atlas Investment Group of Boston.
"Wychmere Harbor Club is truly one of the finest properties on Cape Cod," said Kevin Phelan, co-chairman and director of capital markets at Colliers Meredith & Grew. "This was a unique and very complicated deal and we are thrilled with the results." Phelan, along with senior vice president Leigh Freudenheim and associate Jeff Black, represented the seller, Snow Inn Realty Trust, and the buyer, Wychmere Harbor Real Estate, LLC, comprised of founding members Demetrios Dasco of Atlas Investment Group, LLC, Jeffrey Leerink of Leerink Swann & Co., and Jim Apteker of Longwood Events.
The property, which comprises the historic Snow Inn and Wychmere Harbor Club, spans nearly 20 acres along Wychmere Harbor Channel and Nantucket Sound, replete with private beach, tennis club, café, event space, private residences, gatehouse, spa, boat dockage, and swimming pools.
"We're committed to creating a lifestyle experience at Wychmere that resonates with today's discriminating consumer," said Dasco, who expects to sell what few residential units remain on the highly desirable Wychmere property. "We're confident our eco-conscious restoration and hospitality plans will not only preserve Wychmere's legacy for future generations but be celebrated by the Wychmere community and beyond."
Dasco tapped Boston-based hospitality operator Longwood Events to create a signature Wychmere experience for its residents, members, and guests. Longwood Events brings an unmistakable track record of honoring the soul of each of its venues while understanding the essentials of creating memorable event and lifestyle experiences.
Acquisition financing was provided by Bank of New England and First Republic Bank.