Mayfair International Realty members, Lila Delman Real Estate has announced the sale of "Stonecroft" on Ocean Road in Narragansett, RI. The extraordinary 6600 square-foot oceanfront shingle and stone estate is sited directly on the Atlantic coast and offers brilliant panoramic sea vistas as well as a glimpse into Narragansett's Gilded Age past. The gracious 8 bedroom home, designed in 1890 by William Gibbons Preston of Boston, is located in the Ocean Road National Register District and has been a Narragansett landmark for decades. With its seemingly endless wraparound porch, third floor balcony and sloping lawns running straight down to the sea, "Stonecroft" epitomizes the ethos of the 19th century summer "cottage" lifestyle and conjures up an era.
Janet Kermes of Lila Delman was the listing and selling associate.
Melanie Delman, president of Lila Delman Real Estate, believes the sale of "Stonecroft" in addition to the other 2012 sales of RI luxury properties indicates a trend towards a resurgence of interest in the coastal market. According to RI’s Statewide MLS service, the number of properties sold statewide in excess of $2m is up 17% this year over last year. "Specifically, oceanfront properties are always in demand," said Ms. Delman, "and given current market conditions, they represent an exciting opportunity for buyers today.
The Narragansett luxury market has shown even greater strength. There have been 6 sales in the Ocean/Boston Neck Rd area in excess of $2m in 2012 versus only 1 for 2011. Lila Delman is pleased to have participated in 4 of those 6 sales, including the top 2 sales at $4,620,500 and $3,750,000.