Hogan Associates today announced the November 9, 2020 sale of 2 Pond Avenue in Newport, a landmark mixed-use building adjacent to Equality Park. The building sold for $1,155,000. Jeff Brooks of Hogan Associates represented the Seller, and Chris Eyre of Hogan Associates represented the Buyer.
Adjacent to Equality Park, this mixed-use building is the home of The Nitro Bar, one of the busiest coffee shops in town, as well as two loft-style apartments on the second and third floors.
The property has been consistently well-maintained and is zoned General Business. With a bustling first floor shop and two residential units with a strong rental history, this is a remarkable opportunity to invest in the booming Broadway District.
“I always admired this building as it is such an iconic piece of Newport real estate,” said listing agent Jeff Brooks in a statement. “Having Chris Eyre from our brokerage bring in the buyer made for a smooth transaction, and we are pleased that the building will remain in good hands with the new owner.”
Audrey Finocchiaro from The Nitro Bar confirmed with What’s Up Newp that the coffee shop won’t be going anywhere, telling us “we’ll be there for the long haul”.