Record Sale in North Stonington, CT

Posted by Melissa Coyle — January 11, 2009

WESTERLY, RI - (January 5, 2009) - Gustave White Sotheby’s International Realty announces a record sale for the North Stonington, Connecticut market area.

The sale of River Hill Farm in 2008 for $3.15 million exceeded all other area sales by over $2 million. Located in North Stonington, Connecticut with a portion over the border in Hopkinton, Rhode Island, the18th century farm totals approximately 160 idyllic acres. “With a national real estate market downturn, this record sale demonstrates the value of specialized real estate services and customized marketing,” said.

Julie Quigley Smith, manager of the Gustave White Sotheby’s International Realty office in Westerly, Rhode Island. “Our experience with unique properties, and the strength of our national and international marketing successfully broadened the market for River Hill Farm.”

The sale also represents an important trend to realize the financial appreciation of large tracts of land and farms, without subdivisions and development. According to Gustave White Sotheby’s sales associate, Melissa Coyle, the seller’s agent for River Hill Farm, keeping the property intact was important in order to preserve the history and atmosphere of the area, while obtaining top market value. “Meeting our client’s financial goals along with preserving the character of this area of New England is significant and really gratifying,” said Melissa. “The record sale of River Hill Farm is evidence that landowners, farmers and others with large tracts of land can achieve their financial goals while protecting and preserving family legacies and the rural qualities that are increasingly sought by our buyers.”

For more information, please contact Melissa Coyle at 401-374-5848 or mcoyle@gustavewhite.com.

About Gustave White Sotheby’s International Realty

Gustave White Sotheby’s International Realty is a full-service agency specializing in luxury real estate and serving all of Rhode Island as well as southeast Connecticut and parts of Massachusetts. Gustave White has been in business for over 78 years as a leader in the luxury market and is the sole Sotheby’s affiliate for Rhode Island. Julie Quigley-Smith, Manager of Gustave White’s Westerly office, may be reached at 401-596-8081 or at info@gustavewhite.com.

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