JAMESTOWN – A vacant 5.7-acre lot recently sold for $3.7 million, making this the highest land sale in the town since 2017, according to Mott & Chace Sotheby’s International Realty, which represented both sides of the transaction.
The sale of the 424 Beavertail Road property also represented the second-highest land sale ever recorded in the town, according to Mott & Chace, citing records kept by the Rhode Island Statewide Multiple Listing Service.
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The sale marked a rare opportunity to buy more than 5 acres of waterfront land in Jamestown, according to Mott & Chace, calling the Beavertail Road area “one of the most renowned locations in Rhode Island.”
“This rare opportunity of over five acres of waterfront land on the peninsula of Beavertail is unmatched,” the real estate firm said in a statement announcing the sale.
Mott & Chace said the site is a former farm and that it would be ideal for the construction of a residential property. It is located “within minutes to downtown Newport,” the company said.
The lot was most recently valued by Jamestown assessors in fiscal year 2024 as being worth $3.64 million, according to the town’s online property tax evaluation database.
The sellers in this deal were represented by Kylie McCollough, sales associate for Mott & Chace. The buyers were represented by Roxanne Gordon, also a sales associate for Mott & Chace.
According to the warranty deed, a public record of the sale, the land was sold by John and Cheryl Stoukides. The property was purchased by Theresa Graves and William Cioffi, of East Greenwich, according to the deed.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
