Multiple Real Estate Transactions at Year’s End lead to Several Record Sales for Newport County Communities

January 18, 2013

Rhode Island – January 18, 2012 – (RealEstateRama) — Gustave White Sotheby’s International Realty announces three Newport County sales that closed in late December. Two of the transactions represent record-breaking sales for their respective communities, while the third is the second highest sales price in that community. The three specific sales were:

The Truesdale Farm on Brayton Point Road in Westport, Massachusetts closed for the record breaking price of $9,000,000. This is a 50+ acre beachfront property straddling both Massachusetts and Rhode Island, with 10+ acres located in Little Compton along Quicksand Pond and Goosewing Beach. This property was listed by Chandler Lyell and Paul A. Leys of Gustave White Sotheby’s International Realty. The buyer was represented by Patti Salem from Barrett and Company in Lincoln, MA.

“Cedar Point” at 196 Highland Drive in Jamestown, RI closed for $7,200,000. This price reflects the highest transaction to date for Jamestown in 2012, per MLS. The property consisted of 6.2 acres of waterfront property along the Beavertail coastline. Three individual lots make up the entire parcel which included a main house, carriage house, dock and gardens. Paul Leys was the listing agent while Michelle Kirby and Kate Greenman of Gustave White Sotheby’s represented the buyer.

29 Indian Avenue in Portsmouth sold for $3,050,000. This reflects the second highest price for a residential sale in Portsmouth this calendar year. The house sits on 7+ acres of waterfront property along the Sakonnet Passage. Leslie Hogan of Hogan Associates was the listing agent while Paul Leys represented the buyer.

Middletown’s highest sale for the year was 675 Indian Avenue, which closed in January for $2,850,000. Christina West, Broker/owner of Gustave White represented the listing and Michelle Kirby, also of Gustave White, brought the buyer. Tiverton’s top sale this year was 239 Nanaquaket Road for $1,100,000. The property was both listed and sold by Martha Easley of Benchmark Associates.

Newport County’s 2012 top residential sale, as well as the state’s, was the sale of the “Hopedene” estate on Cliff Avenue, selling for $16,000,000 earlier this month. Gustave White Sotheby’s represented both the buyer and seller.

Paul Leys, Broker/owner, states “it is a pleasure to see the real estate market rebounding at such an opportune time. Buyers have chosen 2012 as a time to ‘get off the fence’ in regard to investing in real estate and I am confident that the trend will continue well into the coming year.” He continued on saying, “properties that are priced appropriately will certainly sell. It is nice to see real estate leading the way out of what has been a very stagnant economy.”

About Gustave White Sotheby’s International Realty

Gustave White Sotheby’s International Realty is a full-service agency specializing in waterfront and luxury real estate and serving all of Rhode Island, including Block Island, as well as southeast Connecticut and coastal Massachusetts. Gustave White has been in business for over 80 years as a leader in the luxury market and is the sole Sotheby’s affiliate for Rhode Island and the Rhode Island Regent member of Who’s Who in Luxury Real Estate. Paul A. Leys, Co-owner of Gustave White Sotheby’s Int’l Realty, may be reached at 401-848-6706 or at for more information.