Alyce Wright is a longtime sales associate with Lila Delman Real Estate who recently represented the seller of a condo closing in the Carnegie Tower. She is the real estate agent who has sold the most condos in the building, now five. She responded recently to questions posed by the Providence Business News about the property.
PBN: What is the Carnegie Tower and what is available for sale?
WRIGHT: Carnegie Tower is a luxurious waterfront, high-rise residential building located within a private gated estate in [Portsmouth]. With floor-to-ceiling windows and balconies, most of the 79 condo residences offer breathtaking water views of Narragansett Bay. The kitchens boast custom cabinetry, granite counter tops and high-end appliances, including a wine refrigerator and built-in Miele espresso maker. The opulent bathrooms are designed to pamper your senses. The tower’s luxury pool area features a 25-meter lap pool, hot tub spa, children’s wading pool, waterside chaise lounge seating and a full bathroom.
Currently via the R.I. Multiple Listing Service, there are 14 tower condos listed for sale ranging in price from $349,000 for a smaller, 910-square-foot, one-bedroom, two-bathroom condo to $2 million for a larger, 3,455-square-foot, four-bedroom, 4.1-bathroom unit. Additional units are also available but are not currently listed on the MLS.
PBN: Unit 401 at Carnegie Tower sold recently for $605,000. What made that unit so valuable?
WRIGHT: The condo is located in the most desirable southwest corner of the building, and hence offers views all the way down the bay to the Newport Bridge and sunsets over the water. Units in this southwest corner are valued at a premium.
The recent sale for $605,000 included an extremely attractive and unique package of 1) Unit 401, which is 1,505 square feet with two bedrooms and two bathrooms, 2) a pool cabana of approximately 280 square feet with a living room and sitting area, gas fireplace, full bathroom, kitchenette and sleeping loft, 3) garage parking space, and 4) storage space. The gorgeous pool cabana, garage parking space and storage are only available for certain higher-priced condos and for an additional price.
PBN: Who is the customer for a high-rise unit – where are the buyers coming from?
WRIGHT: Many of the buyers are seeking vacation residences and their primary residences are in Rhode Island, Massachusetts, New York, Florida, or elsewhere. Some buyers are down-sizers seeking the benefits of maintenance-free condo living.
PBN: When did you enter real estate as a profession and how did you become knowledgeable about the field?
WRIGHT: I started my real estate career in 2008 and have been a sales associate with Lila Delman Real Estate for the entire time. With over 10 years of experience working in financial services at Morgan Stanley and Goldman Sachs, I brought my extensive client relationship, financial analysis, negotiating and deal-making skills to my real estate career. I have a degree in economics from Harvard College.
PBN: What is the outlook for the condo market along the coast?
WRIGHT: I am bullish on the market for luxury condos in coastal Rhode Island. Already this year and in Newport County alone, for condos priced at $750,000 and above, there have been three condo sales and there are eight condos which are under contract with buyers or a sale pending.
Mary MacDonald is a staff writer for the PBN. Contact her at Macdonald@PBN.com.
