“Hopedene” Summer Cottage on Newport’s Cliff Walk Sells for $16 Million

1356553980Rhode Island - Gustave White Sotheby’s International Realty today announced the sale of “Hopedene” at 43 Cliff Avenue in Newport, Rhode Island. This turn-key Peabody & Stearns 6+ acre waterfront estate situated along Newport’s famed Cliff Walk sold for $16,000,000. This price represents the highest recorded residential sale in Rhode Island this year and the second highest ever. Sales associate David Huberman of Gustave White Sotheby’s International Realty represented the sellers, Craig and Michelle Millard, who orchestrated an extensive renovation of the historic property. The buyer, Hopedene, LLC, has chosen to remain anonymous and was represented by Broker/Owner Paul A. Leys, also of Gustave White Sotheby’s International Realty. The Newport-based firm also handled the sale of another significant Newport estate, “Clarendon Court,” earlier this year for $13,126,000.

“Hopedene,” a rare Georgian Revival by Peabody & Stearns, was designed for Elizabeth Hope Gammell Slater and built in 1899–1902, with Beatrix Ferrand as the landscape designer. Architect and interior designer Ogden Codman enlarged and renovated the mansion in 1913. Subsequent owners included Count Haugwitz-Reventlow and New York antiques dealer Charles P. Patterson, who willed “Hopedene” to the Newport Preservation Society, which sold the house back into private hands. More recently, the Windigo Architecture firm completely updated the historic oceanfront property to the highest standards. This extraordinary estate includes a main house, expansive balustrade-bordered terraces, an impressive carriage house with guest quarters, an ocean-facing pool and spa, tennis court, gated service entrance, and an FAA-approved heliport.

Leys states “This transaction certainly highlights what has been a tremendous year for high-end real estate in Rhode Island. The state has never seen a year in which so many properties of this caliber have sold, especially one in such pristine condition as ‘Hopedene.’” (For more details on the history of “Hopedene,” refer to Peabody & Stearns Country Houses and Seaside Cottages, by Annie Robinson.)

"Hopedene" Summer Cottage

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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 is the sole Sotheby’s affiliate for Rhode Island and 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 pleys@gustavewhite.com for more information.