NEWPORT – A custom-built home called Ocean Mist on the waterfront recently sold for $7.13 million, marking the highest residential property sale in the city this year as of early July, according to Lila Delman Compass, which represented the seller in this transaction.
The 5,425-square-foot home constructed in 1999 at 599 Ocean Ave. is sited on nearly half of an acre on the ocean, with its own private beach with deeded rights, according to Lila Delman Compass, which referred to records kept by the Rhode Island Statewide Multiple Listing Service, calling this the most expensive home sale in Newport so far this year and the second-highest residential real estate deal in all of Rhode Island year to date.
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The three-story home overlooking the ocean contains four bedrooms, five full bathrooms and one half-bathroom.
“The magnificence of the ocean views from this well-designed property cannot be overstated,” said Anne Northup Burns, associate broker for Lila Delman Compass who listed the property on the market on behalf of the seller. “The buyer also appreciated the beautifully sculpted landscaping, attention to every detail and superior construction.”
The gated estate with a brick driveway also features a gas-plumbed travertine patio in the backyard, with a spa, shower, waterfall and koi pond, along with an outdoor kitchen and a large private pergola-covered deck with a trellis and awning, according to Lila Delman Compass.
The property contains a wood-paneled elevator serving all levels of the home, the real estate firm said. The home also includes three garage bays, according to city property records.
Other highlights of the oceanside home include a grand staircase, high ceilings, curved walls, hardwood flooring, handmade built-in storage features and cabinetry, according to Lila Delman Compass.
While Burns represented the seller, the buyer was represented by Jennifer Pierik, of Jamestown Real Estate LLC.
The home was most recently valued by Newport assessors in fiscal year 2024 as being worth a total of $5.8 million, according to the city’s online property tax evaluation database. Of that, $2.98 million was attributed to the 0.48 acres of land that the home stands on and $2.81 million was attributed to the home itself.
The home was last owned by the Lorraine Sebastiao Revocable Trust, according to the property tax evaluation database. A copy of the deed, a public record documenting the sale, was not immediately available through Newport’s online land ownership records database.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
