Times of India·3 min read·easy

Provincetown's most expensive condo sells for $5m after finding buyer in 5 days

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TOI REAL ESTATE DESK
Provincetown's most expensive condo sells for $5m after finding buyer in 5 days
AI Summary

A luxury condo in Provincetown, Massachusetts, recently sold for a record-breaking $5 million, just two weeks after a neighboring unit set a previous record. The sale highlights the surging demand for modern, high-end residential properties in the Cape Cod area.

Why it matters

This rapid appreciation in property values illustrates the ongoing trend of luxury real estate expansion in historically traditional vacation markets.

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Picture this: You live in Provincetown, one of America's most desirable residential areas, and watch a condo in your neighbourhood sell for a record $3.9 million. You joined the celebrations, shook hands with the new neighbour. But then, nearly two weeks later, the condo next door sells for an even more staggering $5 million, making it the most expensive purchase in the area.That’s exactly what happened in Provincetown recently, when the neighbourhood's escalating luxury game reached a fever pitch. Two stunning condos on the same bucolic West End street, separated by mere feet, shattered records in just fourteen days, with the second deal obliterating the first by over a million bucks! The $5 million condo was a three-bedroom contemporary home designed as a personal retreat.Both properties were developed by local restaurateur Victor DePoalo, who understood the demand for modern homes in a town known for its Victorian-style houses.

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