PROVIDENCE – A 7,100-square-foot, custom-designed home and office building recently sold for $1.6 million, making it the second-highest residential property sale so far in 2024 for the Valley neighborhood of Providence, according to Residential Properties Ltd., which represented the seller.
The 28 Wolcott St. home contains three bathrooms and one bedroom, according to Residential Properties, which cited records kept by the Rhode Island Statewide Multiple Listing Service to deem this the most expensive home sale to ever take place in the Valley.
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The property has long been headquarters for TRAC Builders Inc., a construction company that’s been in business since 1994. The building, constructed in 1930, was previously an office for design-build renewable energy company Alteris Renewables.
This mixed-use office and residential property is perched on a hill, overlooking the rest of the neighborhood.
The building is divided into three sections, and the property includes more than a half-acre of land, according to Residential Properties. The building is outfitted with solar arrays, offsetting electricity bills, the real estate firm said.
The main entrance opens to a reception area and glass-enclosed conference room, the real estate firm said. The first floor features additional conference rooms and private offices.
Upstairs, there’s an open-concept workspace, with seven office areas, overlooking a gathering hall, a kitchen and a dining area, with access to an exterior courtyard. The fenced-in property includes raised garden beds in the yard.
There’s also a loft apartment upstairs, with 2,400 square feet of living space, including its own kitchen, dining areas, living areas and a bedroom suite, the real estate firm said.
The property was most recently valued by Providence property assessors in fiscal 2023 as being worth a total of $696,700, with $101,100 of that being attributed to the value of the land.
Residential Properties sales associate Jim DeRentis represented the seller as the listing agent. The buyer was represented by Natalie Burrows, of Coldwell Banker Realty.
According to the warranty deed, a public record of the sale, the home was sold by Cargill Westside Group LLC, a limited liability company in Providence managed by William Tracey, CEO and president of TRAC Builders.
The custom-designed property was purchased by 28 Wolcott Street LLC, a limited liability company based in Pawtucket and registered to Sean Brown.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
