EAST PROVIDENCE – The Rose Furniture Co. building at 245 Warren Ave. recently sold for $450,000, according to the trustee’s deed, a public record of the sale.
The three-story brick warehouse building, constructed in the late 1930s, was sold by the Henry D. Rose Revocable Trust and was purchased by Elysian Group LLC, according to the deed.
The former furniture business closed in 2017 after more than 80 years in business, following the retirement of its former operator, Henry C. Rose, the son of the trust’s namesake.
Henry C. Rose, who served in the R.I. House of Representatives from 1992-2008, died on April 1 of this year at age 82. His father, Henry D. Rose, the founder of the Rose Furniture Co., was 93 when he died in 2005.
According to the company’s articles of organization, filed with the R.I. Department of State, Elysian Group is a limited liability company managed by Albert Scappaticci, of Sharon, Mass.
The Local Group, of Lila Delman Compass, represented the seller and facilitated the transaction for the buyer, according to the real estate firm.
According to the city’s online property tax evaluation database, the property was most recently valued in fiscal year 2023 by East Providence assessors as being worth $738,900.
The property features approximately 140 feet of high-visibility frontage, according to Lila Delman Compass. The building also contains 30,000 square feet of living space, and it stands on a 0.3-acre lot, according to city property records.
“Representing both the buyer and seller of this historic building, with its 80-plus-year legacy as a cherished furniture store, has been a truly special experience,” said Jonathan Kaufman, sales associate for The Local Group. “The seller’s deep connection to the building and their successful business adds an extra layer of significance to this transaction. It’s an honor to have been part of preserving the legacy of such a storied establishment and helping to find the steward for its next chapter.”
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.