Mott & Chace Sotheby’s International Realty has announced the $3.9 million portfolio sale of three historic Compass office buildings in Newport, Providence, and Jamestown.
Gregory Arakelian of Mott & Chace Sotheby’s International Realty represented the buyer, Sand Point Companies, in the transaction. John Hodnett of Lila Delman Compass represented the sellers, Pam Delman and John Hodnett.
The portfolio includes offices at 3 Memorial Boulevard in Newport, 369 South Main Street in Providence, and 19 Narragansett Avenue in Jamestown.
“The Lila Delman office buildings, with their historical provenance and aesthetic beauty, have become recognized Rhode Island landmarks, and are located within three of some of the highest real estate markets in New England,” Arakelian said.
The Newport property, a 3,027-square-foot building designed by architect George Champlin Mason around 1879, received the first annual Doris Duke Historic Preservation Award from the Newport Restoration Foundation. The Travers House is a National Historic Landmark situated near the International Tennis Hall of Fame and Bellevue Avenue. Mason also designed Newport mansions, including Chepstow, the Eisenhower House, and Woodbine Cottage.
The building features an Italianate facade, arched windows with decorative hoods, and bracketed trim. It is currently configured for retail and office use on the ground floor with potential mixed-use or residential space on the second floor.
The Providence property earned the 2016 Rhody Award for restoration of the historic Earle Warehouse, built around 1784. Deacon Joseph Sheldon purchased the 4,480-square-foot building at 369 South Main Street in 1770, and he built a wharf, dwelling, cooper’s shop, and warehouse on the site.
The three-and-a-half-story masonry warehouse features rough-cut stone exterior walls, iron door openings with stone lintels, double-hung windows with iron shutters, and a slate roof. It was listed on the National Register of Historic Places in 1977 as part of the College Hill Historic District.
The building currently houses a real estate office on the first two floors and a luxury residence on the upper two floors overlooking the Providence River.
The Jamestown property at 19 Narragansett Avenue is a 1,368-square-foot, one-story office building in the village’s shopping and dining district near the harbor. The property includes off-street parking.
Arakelian has brokered record sales in Washington County, Newport County, and statewide, including the sale of the Wayfinder Newport Hotel.
Mott & Chace Sotheby’s International Realty was founded in 2013 and has eight offices in Barrington, Bristol, Charlestown, East Greenwich, Narragansett, Providence, Watch Hil,l and Westport, Massachusetts.
