Newport, RI, March 21, 2014 --(PR.com
)-- Gustave White Sotheby’s International Realty today announced the sale of a newly constructed waterfront estate on Poppasquash Road in Bristol, Rhode Island for $5,250,000. The transaction represents the second highest sale in the state this year to date and the highest residential sale ever recorded in Bristol, according to the Statewide Multiple Listing Service (MLS).
The 7,500 sq. ft. gated residence sits on 2.78 waterfront acres with panoramic west-facing views of Narragansett Bay. With state-of-the-art systems including a geothermal heating and cooling system and whole-house generator, other interior architectural features include black walnut flooring, custom mill work, and an elevator. There are multiple master suites, a chef’s kitchen, large family room with full bar, a private gym, and surround sound system. The landscaped grounds offer privacy for entertaining with a covered porch, barbeque grill, and fire pit.
David Huberman, of Gustave White Sotheby’s International Realty represented the sellers, and Mansions & Manors represented the buyers. Poppasquash Road has had several sales above $3 million, with the second highest sale, the Point Pleasant Inn at 333 Poppasquash Road, selling for $3.5 million in 2000. “This sale, which happened within two months of being put on the market, demonstrates the continuing upward trend in the value of Rhode Island’s waterfront properties,” commented Paul A. Leys, co-owner of Gustave White Sotheby’s International Realty.
About Gustave White Sotheby’s International Realty
Gustave White Sotheby’s International Realty is a full-service agency specializing in waterfront and luxury real estate and serving all of Rhode Island, including Block Island, as well as southeast Connecticut and coastal Massachusetts. Gustave White has been in business for over 88 years as a leader in the luxury market and the Rhode Island Regent member of Who’s Who in Luxury Real Estate. Paul A. Leys, Co-owner of Gustave White Sotheby’s Int’l Realty, may be reached at 401-848-6706 or at firstname.lastname@example.org for more information (http://www.gustavewhite.com/).
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational, and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.