NEWPORT – Known as “Seaward,” the property at 339 Ocean Ave. in Newport formerly came with an asking price of $45 million, which set the high-water mark for Rhode Island real estate when it was listed for that much in 2013.
Earlier during the summer the 45-acre “Seaward” estate was on the market for nearly $30 million, which if sold for that much would have broken a record for biggest home sale in Rhode Island history, a record set eight years ago by the $17.75 million deal for Taylor Swift’s oceanside mansion in Westerly.
Now it’s been sold – in part.
Nearly half of the “Seaward” estate, including a four-bedroom main house and a 3-bedroom guest house with views of Price’s Neck Cove, were recently sold for $16 million following a subdivision of the property, according to Lila Delman Compass, which represented the seller and buyer in the deal.
“By re-imaging the property and securing subdivision approval, the various packages offered exclusively by Lila Delman Compass brought forth strong buyer interest,” the company said in an announcement released on Tuesday.
The sale of the 20-acre property labeled Lot B & Lot 38, is the biggest in Rhode Island history since 2019, when 10 Bluff Ave. in Westerly was sold for $17.6 million, the real estate company said.
“A property of this caliber is rare and represents a once in a lifetime opportunity in this beautiful city,” said Kendra Toppa, Newport County sales manager for Lila Delman Compass. “The acreage coupled with the exceptional location and construction put ‘Seaward’ in a league of its own. We are extremely happy to have brought the seller and buyer together.”
Formerly, the 339 Ocean Ave. estate was home to Candace and James Van Alen, who were Newport socialites and founders of the International Tennis Hall of Fame. However, they lived in a building that was damaged in a fire in 1976 that gutted the property, formerly known as the “Avalon” estate.
The sale of “Avalon,” as it was still known, in 2004 set a Rhode Island home sale record when it was bought by the previous owner for $10.3 million.
The former building was then torn down and the current homes were built over a four-year period and completed in 2008, according to Lila Delman Compass.
According to property records, the sellers were Atlantic Properties Revocable Trust and Trustee Seth A. Gelber. The new buyer’s identity was not immediately available.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com.
