PROVIDENCE – Less than half of an acre of land in Providence recently sold for $2 million, making it the highest final price for a vacant property sale in the city since 2019 and the second-highest vacant land sale to ever take place on the East Side, according to Compass Inc., which represented the seller in the deal.
The sale of the empty 0.38-acre lot at 116 Benevolent St. also marked the third-highest vacant land sale in Rhode Island year to date, according to Compass, citing records kept by the Rhode Island Statewide Multiple Listing Service.
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The real estate firm called the vacant, buildable lot a “rare” find on College Hill, located across from the Rhode Island Historical Society on the edge of the Brown University campus.
The property features 50 feet of street frontage, “providing ample space” to build a home, Compass said.
The seller of the vacant lot was represented by Kira Greene, of Compass Providence. The buyer was represented by Jim DeRentis, of Residential Properties Ltd.
According to the quitclaim deed, a public record of the sale, the 16,427-square-foot lot was sold by Craig Stewart and Jessica Stewart, of Providence, to Cooke Twenty-Five Realty LLC, a limited liability company based in East Providence.
The property is the result of a subdivision, according to Compass. The quitclaim deed states that it now includes two lots on 118 Benevolent St. and 126 Benevolent St., in addition to land from 116 Benevolent St.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
