Cheryl Andreozzi is a real estate agent based in Barrington who joined Mott & Chace Sotheby’s International Realty in 2019 after spending more than 30 years in the architecture industry managing the office of her husband’s architectural firm Andreozzi Architects.
Andreozzi, who’s also a member of the RISD Museum Associates and was formerly its vice chairperson, last year managed the sale of the 39 microlofts that make up the historic Arcade Providence on Westminster Street in downtown Providence, on behalf of the developer, Evan Granoff, and his company Granoff Associates LLC.
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PBN: You have a background in managing an architectural office for many years. How have you been able to take that experience into the Rhode Island real estate industry as a sales associate for Mott & Chace?
ANDREOZZI: My three decades of experience managing an architectural office was a natural complement to real estate sales and has been invaluable. Working with various building trades, differentiating between trends and gimmicks, and most importantly, understanding the importance of superior design in a new house or renovation as it relates to the house’s future resale have all been crucial.
PBN: What has the real estate market been like so far this year in Barrington? What’s business been like for you in 2023?
ANDREOZZI: It has been a remarkable start to the new year. I have been busy with listings and working with buyers. The lack of inventory in Barrington, as well as most of Rhode Island, has made finding buyers homes a bit challenging. Now is a fantastic time to sell; there are buyers out there.
PBN: Last year, you were involved with the Arcade Providence, which was built in 1828 and is considered the nation’s oldest indoor shopping mall. What was it like to be involved with selling the 39 microloft units that were developed there? What can you tell us about that important project?
ANDREOZZI: Can you say dream project? My love of architecture, combined with the amazing job the developer Evan Granoff did to recreate this historic landmark, was an incredible opportunity.
Buyers would walk into the building and smile; everyone had a story to share about their experiences there. The adaptive reuse of this historic building into a fully sold-out microloft development was as much about stewardship as it was about commercial success. History and culture did matter, buyers flocked to own a piece of the iconic landmark. I still get inquiries from buyers desiring to own a unit there.
PBN: Another project you were involved with was Bay Spring Crossing, Building C, and the 12 condominium units constructed there. That sold out. What made that project unique and what can you tell us about your involvement?
ANDREOZZI: The project at Bay Spring Crossing is the only condominium complex in Barrington. The developers were originally apprehensive to have an exclusive listing with a real estate agent. The previous phases had sold with spotty sales.
When interviewed to represent this next phase, we presented the value that Mott & Chace Sotheby’s International would add to the project. The developers were convinced; units sold quickly, and prices continued to rise steadily until they were sold out. The location provided direct access to the bike path, a short walk to the water, along with a price point that was extremely desirable. The project was a tremendous success.
PBN: What’s the supply and demand like for high-end condominium units in Providence right now? How can you describe that sector of the local real estate market?
ANDREOZZI: The demand in the Providence metro area for high-end condominiums is very much there. Like the rest of the real estate market in Rhode Island, the demand is high, and the supply is low. As with all real estate, if the property is priced correctly, the listing will sell quickly.
Marc Larocque is a PBN contributing writer.
