Teri Degnan Real Estate & Consulting, LTD has announced the purchase of “The Playhouse” at 294 Ocean Avenue in Newport for $6,999,000.

“My clients were looking for an exceptional waterfront home in Newport that was spacious but not overwhelming and I knew The Playhouse would exceed all expectations,” said Degnan.

Perched on the edge of Price’s Neck Cove on Newport’s legendary Ocean Drive, “The Playhouse” was built in 1902 and served as the carriage house and boathouse for the neighboring Wildacre estate. Painstakingly restored throughout 2016 and 2017, the iconic four-bedroom home offers unique, all-custom style, meticulous landscaping on a half-acre and luxury coastal living in a world-class destination. It measures 4,732 square feet.

According to data from the Rhode Island Statewide Multiple Listing Service, this is the 5th sale over $5M in 12 months. “This sale reflects that the luxury market is still strong and people continue to find Newport to be a desirable location year-round,” says Degnan.

The sellers of the home were represented by Michelle Drum and Kim Fleming of Gustave White Sotheby’s International Realty.

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