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.
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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.
“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.
