NEWPORT – The historic 3,553-square-foot, two-floor “Playhouse” at 294 Ocean Ave. situated along Prices Neck Cove in the city was sold for $9.9 million, Gustave White Sotheby’s International Realty and Residential Properties Ltd. announced Monday.
The agencies say it was the second-highest sale in the city this year. Last month, “The Orchard,” a 14-room estate along the city's Cliff Walk at 180 Narragansett Ave.,
sold for $10.8 million.
The 1902-era home acquired by Boomerang Acquisition LLC, a Delaware-based limited liability company, from the Forest E. Patten Revocable Trust. The trust had acquired the home in 2018 for $6.9 million, according to city records.
The Playhouse, which overlooks the Atlantic Ocean, consists of four bedrooms and 3 and a half bathrooms. Along with having a detached garage and guest house, the property also has a new pool and spa area, Residential Properties said, as well as a deeded mooring in the cove.
City records show that the Playhouse was valued at $8.7 million this year and its value has more than doubled since 2020. Gustave White represented the sellers, while Residential Properties represented the buyers.
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on X at @James_Bessette.