NEWPORT – In one of the top 10 largest real estate deals made in Rhode Island this year, a waterfront estate in Newport known as “La Sanctuaire” recently sold for $13.97 million, according to Lila Delman Compass, which represented the seller.
La Sanctuaire was custom built in 1980, according to city records, spanning 5,994 square feet of living space, with five bedrooms and five full bathrooms, along with three fireplaces.
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The 11 Ridge Road property was sold by Frank Sciuto and Marcus Real Estate Holdings LLC to T. Roseanne Williams and Dennis Williams, according to public records documenting the real estate transaction.
“This home was the owner’s pride and joy,” said Annie Becker, the Lila Delman Compass associate broker who facilitated the sale. “He purchased the land, just after the Auchincloss family subdivided it from Hammersmith Farm, and built the home where he spent many years hosting family and friends.”
The property was last appraised by the city in fiscal year 2021 as being worth $6.7 million, according to Newport assessor’s records.
Kendra Toppa, sales manager for Lila Delman Compass for Newport County, said the La Sanctuaire sale marks the ninth residential real estate transaction exceeding $10 million this year, with just a few weeks left in 2021. Throughout 2020, there were only four residential property sales over $10 million, Toppa said.
“It is encouraging to see demand more than double due to increased buyer motivation for rare waterfront offerings,” Toppa said.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
