REAL ESTATE

East Side properties sell for $5M

Posted 8/20/12

PROVIDENCE – Walter L. Bronhard Real Estate has purchased five buildings on the East Side of Providence, most in the historic Benefit Street corridor, for just under $5 million.

The acquisitions, which include the four-story, mixed-use George Earle Building on Benefit Street, were part of a package of East Side buildings sold this year for $5.9 million by the Plushner Family Limited Partnership.

The sales were brokered by ReMAX Cityside in Providence with Owner Julie Longtin representing the seller and ReMAX agent Armistead Covington the buyer.

Bronhard, a Fall River chiropractor whose real estate business includes extensive holdings in Providence, intends to spruce up the recently purchased buildings, but leave them in their current configuration, said Bronhard Real Estate Property Manager Louis Mendonca.

In addition to the Earle building at 161 Benefit St., the sales include the 1785 former Golden Ball Inn apartment building at 19 South Court, the 1867 John Steere House at 122 Benefit St., a three-story apartment building at 208 Benefit St., and an eight-unit apartment building at 26 Pitman St.

The George Earle Building and John Steere House both came with parking lots on separate parcels and 26 Pitman St. came with an adjacent vacant lot.

Mendonca said only the lot next to the Earle Building – home to Geoff’s Superlative Sandwiches – is buildable and his company would consider putting a duplex there when there is sufficient demand.

The other two apartment buildings in the sale are the 1839 Charles Shaw House at 134 Benefit St., with eight units, and the nine-unit 189 Williams St. near Hope Street.

All of the buildings had been on the market for several years with one agreement from a New York investor falling through in 2006, Longtin said.

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