Jewelry District building sells for $2M

THE THREE-STORY BUILDING at 71-85 Richmond St. in Providence, pictured at center and left, sold in mid-July for $2 million, about twice its assessed value. / PBN PHOTO/MARY MACDONALD

PROVIDENCE – A three-story building at 71-85 Richmond St. sold in mid-July for $2 million, about twice its assessed value.

The property owned by Asset Preservation Inc. was sold to Seventy One Richmond LLC on July 12. The property, constructed in 1900, consists of a 14,434-square-foot brick building.

It is home to multiple tenants, including a corner pizzeria, Richmond Street Tattoo and Alchemy, a nightclub.

The tenants are expected to remain, according to a spokeswoman for Providence-based Sweeney Real Estate & Appraisal, which represented the buyer. The seller was represented by Neil Amper of Providence-based Capstone Properties.

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Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.

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