Multifamily home near Bellevue Ave. in Newport sells for $1.5M

THE PROPERTY AT 7 Bowery St. in Newport was sold for $1.5 million. It features a third-floor apartment with separate private access. / COURTESY MOTT & CHACE SOTHEBY'S INTERNATIONAL REALTY
THE PROPERTY AT 7 Bowery St. in Newport was sold for $1.5 million. It features a third-floor apartment with separate private access. / COURTESY MOTT & CHACE SOTHEBY'S INTERNATIONAL REALTY

NEWPORT – The multifamily property at 7 Bowery St. sold for $1.5 million, according to Mott & Chace Sotheby’s International Realty Monday.

The home, known as the John Stacy House, was built in 1845. The property is a two-family residence, with a 1,600-square-foot, third-floor apartment with a private entrance.

The whole building is 4,806 square feet, according to property records. The lot is 0.15 acres. The building was last assessed at $1 million in 2018. The property was purchased for $300,000 in 2010 by James R. Claffee.

The current owner of the property, the Claffee AZ Living Trust Agreement, was represented by Michele Datoli, broker associate at Mott & Chace. The buyer, whose identity was not immediately available, was represented by Kevan Campbell of Hogan Associates.

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“Seven Bowery Street is an incredible home offering the best of Newport,” said Datoli.

The property is across the street from Aquidneck Park and a short walk from both the Newport harbor and Bellevue Avenue.

The sale was the highest multifamily property sale in Rhode Island year to date, according to Mott & Chace.