PROVIDENCE – The historic Merchants Bank building recently sold for $3.98 million, according to Sweeney Real Estate & Appraisal, which represented the seller.
The mixed-use property at 20 Westminster St. occupies a prominent corner in Providence’s financial district and includes ground-floor retail space with five floors of residential apartments above, according to Sweeney Real Estate & Appraisal.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
The six-story building contains approximately 13,464 square feet of living space, sitting among neighbors such as the Turks Head Building, Textron Tower, One Financial Plaza and The Beatrice hotel.
According to marketing materials and previous public listings, the building dates to the mid-19th century and originally served as the headquarters of Merchants Bank, one of Providence’s earliest financial institutions. For its first two decades, roughly, the Merchants Bank building was the tallest building in the city and served merchants conducting business along the nearby Providence waterfront, according to Sweeney Real Estate. Banking operations left the building in the late 1950s, and it later housed offices for the Automobile Association of America before being redeveloped as a mixed-use property.
The property now includes retail space on the first floor and 10 apartments on the upper floors, according to Sweeney Real Estate. At the time it was marketed for sale earlier this year, the residential units were fully occupied, according to Sweeney Real Estate. The building was added to the National Register of Historic Places in 1977 and remains one of the most historic structures along Westminster Street.
According to the Providence property assessor’s database, the property was valued at approximately $2.19 million for fiscal year 2026, including $414,800 for the land and $1.78 million for the building.
Thomas O. Sweeney, of Sweeney Real Estate & Appraisal, represented the seller in the transaction. Bob Berle, of New England Commercial Real Estate Brokers, represented the buyer.
According to the quitclaim deed, a public record of the sale, the property was sold by TWA LLC and purchased by Morse Heritage Properties LLC, a limited liability company based in Providence.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
