BRISTOL – A 3.9-acre waterfront lot in Bristol was recently sold for $1.6 million, making it one of the biggest land sales in the town in the past five years, according to Engel & Volkers, which represented the buyer in the deal.
The sale of 4 Portside Drive in Poppasquash Point marked the highest-priced land sale in the town so far this year and the second-highest-priced land sale in the community during the last five years, according to Engel & Volkers, citing data from the Rhode Island Multiple Listing Service.
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Learn MoreThe lot sits on a private, gated peninsula on the east side of Narragansett Bay, according to Engel & Volkers, and the property features a large beachfront with the potential for a deep-water dock directly off its shoreline. The property contains vintage stone walls and trees that would create a sense of privacy for a potential future home, according to the real estate firm.
“The property is a blank canvas for the buyer to build the homesite of their dreams overlooking Bristol Harbor,” Engel & Volkers said in a statement announcing the sale.
Kim Marion, global real estate adviser for Engel & Volkers, represented the private buyer in the deal, according to the real estate firm. Marion also worked with her client’s civil engineer, the R.I. Coastal Resources Management Council, and the listing agent to complete the deal, according to her firm.
The property was listed for the seller by Matthew Antonio, of Chart House Realtors.
The property was sold by Lee Jay Realty, a Providence-based limited liability company, according to the warranty deed, a public record of the real estate deal.
Lee Jay Realty originally purchased the land as a larger parcel in 2021 before subdividing the lots for sale, according to Engel & Volkers.
The property, located in a residential zone of the town, was purchased by an entity called The 4 Portside Drive Revocable Trust, based in Portsmouth, according to the warranty deed.
Marc Larocque is a PBN contributing writer.