Conservation Sale of Unique Property

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Pegan Hill in Dover & Natick, Massachusetts

40.44± acres improved with a Colonial-style residence built in 1971. The property is adjacent to the Pegan Hill Reservation (owned by The Trustees of Reservations) and Mumford Wildlife Forest (owned by the New England Forestry Foundation). A portion of the property is encumbered by a conservation restriction (CR) granted in 1992.

Conceptual land planning to determine highest and best use and market value under various scenarios.
Valuation of various hypothetical conservation restriction scenarios.
Land planning and valuation on an adjacent property held by separate owners in order to determine any possible benefits of assemblage.
Coordination with a local real estate attorney regarding various title and regulatory issues.
Coordination with engineers to undertake soil testing and update a septic design permit.
Market the property to conservation groups, developers, and estate buyers with the primary goal of leveraging a sale for conservation.
Negotiate and facilitate the sale through closing.

Scarcity of market data due to the exceptionally unique nature of the property.
Developing competition, fear of loss, and maximizing the sale price with a limited potential buyer pool.
Negotiating the terms of the sale that meet the seller's price and timing goals as well as the buyer's needs for public and private fundraising.
Various title and regulatory issues.
Need to demolish a house, remove a driveway and undertake significant tree and site grading work.

The property was purchased in two parts for full fair market value and will be permanently protected conservation land.