Newport estate sells for $16.1M

NEWPORT – Fairholme, the oceanside estate that led Rhode Island’s list of residential sales in 2015, has changed hands again.
Melanie Delman, president of Lila Delman Real Estate International, announced last week the 4.3-acre property sold for $16.1 million. The buyer is Fairholme LLC. Lila Delman Real Estate represented the seller, and facilitated for the buyer, according to a news release.
In July 2015, the property overlooking the Cliff Walk sold for $15 million, then the highest sale in Rhode Island in two years. It later was placed back on the market. The sale was announced Monday.
The 1875 Tudor revival mansion includes a grand Horace Trumbauer-designed ballroom, a carriage house, greenhouses, a tiled swimming pool and a cabana pavilion overlooking the Atlantic Ocean above the Cliff Walk, according to the news release.
In 1905, the property was remodeled by then-owner John R. Drexel.

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