NARRAGANSETT – In the town’s largest residential property transaction in the past year and a half, a ranch built in 1993 at 250 Ocean Road recently sold for $5.9 million, according to Lila Delman Compass, the luxury real estate firm that represented the buyer in the deal.
The single-story home, which contains four bedrooms and two bathrooms, is located on a 1-acre lot overlooking the Atlantic Ocean close to the Narragansett seawall and pier, with views of the Newport Pell Bridge to Point Judith, according to the real estate firm. The home also features a fireplace, an unfinished basement, a deck and an open porch.
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Lila Delman Compass said the home was sold after just four days on the market, closing for $400,000 over the listing price, making it the largest residential property sale in Narragansett so far this year.
The home was most recently valued by Narragansett assessors in fiscal year 2022 as being worth $3 million, according to the town’s online property evaluation database.
Lila Delman sales associate Ruth Bellino said the swift multimillion-dollar sale demonstrates the sustained demand for luxury housing in Rhode Island.
“Properties of this caliber in the Ocean Road estate area are singular and rarely become available,” Bellino said. “This home is a true waterfront gem.”
Mott & Chace represented the seller in the transaction, according to Lila Delman.
The 2,365-square-foot home was sold by Essex LLC, a Rhode Island-based limited liability company established by Catherine Daniel and Richard Carolan Jr., to Michael Vickers and Lesley Vickers, who previously lived in South Kingstown, according to a copy of the warranty deed, a public record documenting the sale.
Marc Larocque is a PBN contributing writer.
