Mott & Chace Sotheby’s International Realty today announced the sale of 30 Sandy Point Farm Road in Portsmouth. The property recently sold for $2,300,000.
The sellers were represented by Judy Chace, Broker/Co-Owner and Kylie McCollough, Sales Associate, and the buyers were represented by Lahna Son-Cundy, Sales Associate, all of Mott & Chace Sotheby’s International Realty.
“With help from Sotheby’s Concierge Auctions, the property was able to find a buyer after 37 days of auction marketing,” Mott & Chace Sotheby’s International Realty said in a press release.
Former Newport City Councilor Mark Aramli and his wife, Ida, purchased the property. Mark Armali, who is the inventor and CEO of Newport-based BedJet, confirmed the purchase with What’sUpNewp on Wednesday, December 11, and emailed the following statement;
SANDY POINT STABLES GETS A LIFELINE TO AVOID DEMOLITION BY LOCAL NEWPORT FAMILY
NEWPORT, RI – December 11th, 2024 — Auctioned off on October 31st, the 122-year-old Sandy Point Stables property in Portsmouth transitioned ownership on December 11th, going to local Newport family, Mark and Ida Aramli. The property is currently home to a public equestrian facility, along with five residential apartments and a music studio.
“This historic gem of a building is sorely in need of restoration and repair. The current operation has not been generating enough income to provide for maintenance and upkeep of the property to avoid further decline. We understood the building was in jeopardy of being demolished by some bidders at auction and wanted to give it an opportunity to be preserved. Near term plans are to continue operation as a public equestrian facility while we explore financially self-sustaining pathways to save and restore the building to preserve it for the next 100 years. We will be diligently working with the Town of Portsmouth and local community stakeholders to see what can be accomplished,” said the Aramli’s.
“I am so appreciative that my buyers allowed me to assist them in this impressive property,” said Lahna Son-Cundy. “It’s not every day you are able to be in the presence of such a classic family name in the Vanderbilts and their former estate, so I am thrilled my clients trusted me in the process.”
More About The Property
“Steeped in history and grandeur, the iconic Sandy Point Farm is one of Rhode Island’s top equestrian legacy properties. Once a cornerstone of the prestigious Vanderbilt Estate, this property encompasses over six acres of pastoral beauty,” Mott & Chace Sotheby’s International Realty shares in the press release. “Designed by architect A.S. Walker and built in stages between 1860 and 1902, the estate has long been revered for its prominence in horse breeding and high-society gatherings. The 30,000 plus square-foot stables feature 24 stalls, a spectacular 15,000 square-foot indoor riding arena, and multiple cupolas crowning the impressive 60-foot-high riding ring. The charm of a bygone era meets the ultimate canvas for contemporary sophistication”.
