Leslie Hogan is a principal at Hogan Associates, an independent real estate company based in Newport that she founded 10 years ago with Matt Hadfield. The company recently had a significant sale of a contemporary house in Newport, which inspired the following five questions. Hogan, who grew up in northern Rhode Island, had a career in marketing before entering the real estate field. She is a graduate of Smith College.
PBN: Hogan Associates recently announced the sale of a 1982 contemporary in Newport. What is the availability of contemporary homes in Newport?
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HOGAN: You can find contemporary homes in Newport, but there aren’t many. They tend to be outside the historic district, which was established in 1965 to govern new construction and exterior changes in the downtown, Ocean Drive and Bellevue Avenue neighborhoods.
The contemporary we sold is outside the historic district on Coggeshall Ave. This is one of the few neighborhoods where you can find homes with less-traditional designs. In fact, our firm sold a fabulous Estes Twombly [Architects]-designed contemporary, at 15 Maher Court, just a few blocks away for $1.49 million about a year ago. For buyers with a modern esthetic, this is a good place to look.
PBN: Is there a new appreciation for the homes built in the ’70s to early ’80s, like the midcentury modern appreciation that many people now have for the ’50s to ’60s?
HOGAN: Yes and no. Most buyers will modify the ’70s and ’80s designs to more closely resemble the ’50s and ’60s. That said, 21st-century versions of ’50s and ’60s designs take some liberties with the genre. Spare, Danish furniture and mod light fixtures are cool – avocado appliances not so much.
PBN: What is the autumn market like in Newport? Is this a good time to buy or sell?
HOGAN: The autumn market is strong here. It’s still a good time to buy and sell. Buyers are done with vacations, and kids are back in school. It’s a great time to look and once summer ends, you might even find a bargain. Of the 92 homes currently on the market, 42% have decreased their prices, and the median price has gone from $1.1 million in July to $952,000, according to Altos Research. As the market adjusts, the deals keep happening.
PBN: What is your most notable sale this year, if you could describe the property?
HOGAN: Caroline Richards and I represented the buyers of 13 Low Lane in Bristol, which sold for $3.17 million in September. It’s a classic midcentury home designed in 1962 by New York architect Eldredge Snyder and a virtual time capsule of the period, beautifully maintained but very dated. The new owners favor contemporary design, and they’re mulling over the pros and cons of building versus renovating. Either way, this property is on a spectacular waterfront lot, so there’s sure to be large expanses of glass involved.
PBN: Do you have a noteworthy listing? If you could, describe it and why it’s a property you love.
HOGAN: I do! 165 Poppasquash Road in Bristol is a rare 1940s design on 3.9 acres with views of Bristol Harbor. It was totally updated and restored three years ago and retains its midcentury vibe. Most of its 6,700 square feet, including a master bedroom wing, are on the first floor. One-level living on such a grand scale is desirable and hard to find, and at $1,995,000, it’s a great value. Here’s the description and a link to the listing.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
