NEWPORT – One of Newport’s few masonry High Victorian Gothic houses recently sold in a $6.5 million deal that also included an abutting residential property, according to Gustave White Sotheby’s International Realty, which represented both the buyers and sellers in the transaction.
The estate known as “Rosevale” at 30 Red Cross Ave. was the key component in the sale, according to an announcement from Gustave White Sotheby’s International Realty.
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The home was built in 1876 as a summer home for William Rives and Grace Rives, of Boston, located on 2 acres of land in what’s called the Kay/Catherine “summer home” area, the real estate firm said. Rosevale was designed by architectural firm of Peabody and Stearns, the firm said. The combined transaction is the biggest ever property sale in the Kay/Catherine summer home area, and it’s the second largest residential real estate transaction in Newport County so far this year, according to Gustave White Sotheby’s International Realty.
“The sale of this iconic estate demonstrates the continuing appeal of Newport’s unique properties,” said Paul Leys, broker and co-owner of Gustave White Sotheby’s International Realty.
The 10,578-square-foot 30 Red Cross Ave. property includes six bedrooms in the main house, and it also includes a two-bedroom carriage house, according to Gustave White Sotheby’s International Realty.
The neighboring property that was part of the deal is located at 187 Rhode Island Ave., the real estate firm said. It was built in 1819 and was inherited by Grace Rives, prior to the construction of Rosevale. The 4,000-square-foot home includes five bedrooms and two full bathrooms.
The properties were last owned by Bob-Tod Inc., according to city property records. A copy of a deed showing the identify of the buyer was not immediately available from the city’s online property records database.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
