24 acres of vacant land in Portsmouth sells for $3.1M

A 24-ACRE PROPERTY at 0 Paquins Lane in Portsmouth was recently sold for $3.1 million, making it the second-largest land sale in the history of the town. / COURTESY MOTT & CHACE SOTHEBY'S INTERNATIONAL REALTY

PORTSMOUTH – A 24-acre property in town has been sold for $3.1 million, making it the second-largest land sale in Portsmouth history, according to Mott & Chace Sotheby’s International Realty, which represented both sides of the transaction.

The sale of the 0 Paquins Lane property marks the highest vacant land sale in the town since 2021, when an 8-acre property on Frank Coelho Drive sold for $3.25 million, according to Mott & Chace, citing the Rhode Island Statewide Multiple Listing Service.

The property, which has views across the west passage of Narragansett Bay, had been a family farm since 1964, according to the real estate firm.

The buyers are working with the Aquidneck Land Trust to preserve the land via a conservation easement, “where it will remain undeveloped in perpetuity,” according to Mott & Chace. The deal is expected to be finalized this summer, according to the real estate firm.

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“This piece of Portsmouth is such an idyllic spot,” said Holly Prentice, real estate salesperson for Mott & Chace who represented the sellers. “I am pleased that it will remain undeveloped to maintain its natural beauty.”

The buyers were represented by The Soby Fox Team, of Mott & Chace, according to the real estate firm.

“I am overjoyed to assist my client in the donation of this beautiful land,” said Bridgette Soby, real estate salesperson for Mott & Chace. “Its beauty will be left for many to enjoy for years to come.”

The property, which is part of a residential zone, was most recently valued by Portsmouth property assessors in 2023 as being worth $364,800, according to the town’s online property tax evaluation database.

The vacant property had been owned by Joseph LaCerda since 1971, according to the online database.

Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama. 

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