Gustave White Sotheby’s International Realty today announced the sale of ‘Bois Doré’ at 115 Narragansett Avenue in Newport, Rhode Island. Sited on almost four private acres in the Bellevue Avenue estate area, the property sold for $8,990,000.
The buyer was represented by Kara Malkovich of Gustave White Sotheby’s International Realty. Mott & Chace Sotheby’s International Realty represented the seller.
Designed by New York architect Charles A. Platt for banker William Fahnestock in 1927, it is considered one of the last great Newport cottages. Built in the classic French château style of limestone, the 19,000 sf residence includes 25 bedrooms, a loggia and terrace overlooking the grounds, and a grand ballroom.
This sale represents the ninth highest price of a residential property in Newport County this year. Paul Leys, broker and co-owner of Gustave White Sotheby’s International Realty stated, “I’m pleased with the acquisition of this iconic property for our buyers. The sale is the most recent in an unprecedented market and demonstrates the continuing appeal of Newport’s grand estates, of which we have been involved in eight of the top ten this year.”