Gustave White Sotheby’s International Realty Closes Historic Oakwood Estate for $4,000,000, the Second Highest Sale of 2016

Posted by Lisa Babbitt — September 6, 2016

1473183154NEWPORT, RI – Gustave White Sotheby’s International Realty announced the sale of ‘Oakwood,’ a George Champlin Mason–designed mansion at 50 Narragansett Avenue in Newport, Rhode Island.  The sale at $4,000,000 represented the second highest sale in Newport this year-to-date.

The property, located in Newport’s estate area just off Bellevue Avenue, is sited on over 5 acres of private gated grounds with gardens, fountains, pool, and tennis court.  The stately Greek Revival house, built as a wedding present for Mary Alida Astor by her father in 1854, was renovated in 2006, adding state-of-the-art mechanical and electrical systems, gourmet kitchen spaces, and other modern amenities to the refined elegance of the grand period rooms.

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David Huberman of Gustave White Sotheby’s International Realty represented the seller; Vanderbilt International Properties brought the buyer.  Paul Leys, co-owner of Gustave White Sotheby’s International Realty stated, “The sale of this iconic ‘Newport Cottage’ is one of four at or above $4 million sold in Newport in the past two years, underscoring the value of investing in these landmark properties.”

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 pleys@gustavewhite.com for more information.

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