hyannisport

Falling Real Estate Prices Hit Kennedy Compound

Filed under: Estates

The price of real estate in Massachusetts has affected even one of Massachusetts' most famous properties. The value of the Kennedy compound in Hyannisport, Massachusetts has fallen $2.2 million since last year. The Boston Herald reports that the Barnstable Board of Assessors cut this year's taxable value the compound to about $11.5 million, representing a 16 percent decline. The waterfront mansion, most recently lived in by Senator Ted Kennedy, dropped in assessed value from $9.6 million to $6.2 million.

Values rose at the compound's two other houses: John Kennedy's one-time home added $720,000 to $2.5 million while Robert Kennedy's former home went up by $265,000 to $2.6 million. Another waterfront parcel once owned by Senator Ted Kennedy went up an impressive $251,000 to $305,400. The Boston Herald article quotes local Realtor Jack Cotton, who said that the way Barnstable generates assessments contributed to the falling value. The estimate was was made partially by looking at how much nearby homes sold for in 2009 and late 2008 during the nadir of the housing market. Cotton estimates the compound's value has really only fallen 5 percent to 10 percent.

Tags: cape cod, hyannisport, kennedy compound, massachusetts real estate

Hyannisport Tower, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

When I saw that this one was up for sale, I was excited. When my family used to live on Cape Cod, I've often passed by this house on the way to the Hyannis Yacht Club. On sunny days I often saw a man painting on outside on the observation deck of the tower. This home is set at a bend in the road in Hyannisport and faces Nantucket Sound. The nearly 8,000 square-foot home is on enviable piece of land with 300 feet of private beachfront. The home, which was built in 1910, is in need of a bit of a renovation but it's a treat to see the artist's works everywhere. The studio is messy, as all good studios should be, but it looks like great space. The home is listed at $8.95 million.

Gallery: Hyannisport