NEWPORT, RI USA – Gustave White Sotheby’s International Realty is pleased to announce 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.”
About Gustave White Sotheby’s International Realty
Gustave White Sotheby’s International Realty is a full-service agency specializing in waterfront and luxury real estate and serving all of Rhode Island, including Block Island, as well as southeast Connecticut and coastal Massachusetts. Gustave White has been in business for over 80 years as a leader in the luxury market and became Sotheby’s first affiliate in 1976. Gustave White is also the Rhode Island Regent member of Who’s Who in Luxury Real Estate. Paul A. Leys, Co-owner of Gustave White Sotheby’s Int’l Realty, may be reached at 401-848-6706 or at email@example.com for more information.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational, and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.