Merrillton mansion sells for $8.7M

International businessman and developer Peter de Savary has sold Merrillton, his seven bedroom gilded-age mansion, for $8.675 million, Stacie Mills, Principal Broker of Vanderbilt International Properties Ltd. said Thursday. More

To continue reading this article, please do one of the following.

real estate

Merrillton mansion sells for $8.7M

Peter de Savary has sold his Gilded Age mansion at 25 Bowery St. in Newport RI for $8.7 million, his broker said Thursday.
Posted 5/1/14

NEWPORT – International businessman and developer Peter de Savary has sold Merrillton, his seven-bedroom Gilded Age mansion, for $8.675 million, Stacie Mills, principal broker of Vanderbilt International Properties Ltd., said Thursday.

The buyer’s identity was not disclosed.

The British-born de Savary, developer of the Portsmouth Abbey Club, made a fortune in industries including oil, shipping, exporting and real estate investment.

He purchased Merrillton, located on Bowery Street just off of Bellevue Avenue in September 2012 for $2.4 million, according to the Newport assessor’s database.

“Having lived in Newport over the past 35 years, I have had the great pleasure of restoring and improving a number of properties in the Newport area, including homes of a special historic nature,” de Savary said in a news release announcing the sale. “I look forward to my next restoration challenge.”

Built in 1849, Merrilton was designed by Samuel Powel in the Italianate style on 2.3 acres and features five and a half bathrooms.

After buying the 7,600-square-foot, three-story brick villa in 2012, de Savary made substantial renovations, the news release said.

Mills represented de Savary in the transaction. The buyers agent was not disclosed.

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot early!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News