Historic Newport Mansion’s $10.8 Million Sale is Rhode Island’s Biggest of 2024

by | Sep 4, 2024 | 0 comments

Share this article!

A historic Newport mansion built during the Gilded Age has become the most expensive Rhode Island residence to sell this year.

The Newport Daily News reported the sale of The Orchard for $10.8 million. Built in 1873 and located on a 4.75-acre property along Newport’s Cliff Walk, the residence features 14 bedrooms, 13 full, 4 half baths and more than 20,000 square feet of living space. The property also features the largest private heated saltwater swimming pool in Rhode Island, a lap pool, Jacuzzi hot tub, indoor swimming pool and a lower-level spa, a private cinema and gardens that include many rare specimen trees plus a historic Florentine bronze and marble fountain.

The Orchard last changed hands in 2018 for $4.35 million; a 2021 sale pegged for $14 million fell through.

Kara Malkovich, of Lila Delman Compass’ Newport office, represented the buyer in this transaction and Stacie Mills and Mary Waddington of Vanderbilt International Properties represented the seller.

 

WRE NEWS  •  READER SUPPORT
Help support the news that keeps you ahead.
If WRE News brings value to your day, consider supporting the reporting that keeps our industry informed.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses

Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses

Ameritrust Mortgage alleges a sprawling Baltimore investment-property scheme used roughly 90 DSCR loans, shell companies, inflated valuations and title irregularities to generate more than $14 million in losses. The federal RICO case puts lender controls around investor loans, appraisals and title work under a harsh spotlight. Continue Reading Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses

Bank Regulators Want to Rewrite Vendor Oversight — Mortgage Tech Could Feel the Change

Bank Regulators Want to Rewrite Vendor Oversight — Mortgage Tech Could Feel the Change

Federal banking regulators are proposing a risk-based rewrite of third-party vendor oversight while separately warning core technology providers about restrictive contracts and fees. For mortgage operations, the proposal could reduce process-heavy reviews without reducing lenders’ responsibility for compliance and consumer harm. Continue Reading Bank Regulators Want to Rewrite Vendor Oversight — Mortgage Tech Could Feel the Change

AB CarVal Buys $340 Million Construction-Loan Portfolio as Private Credit Moves Deeper Into Housing

AB CarVal Buys $340 Million Construction-Loan Portfolio as Private Credit Moves Deeper Into Housing

AB CarVal has acquired a $340 million portfolio of performing multifamily and build-to-rent construction loans across seven U.S. metros. The deal is more than another CRE transaction: it shows private capital continuing to position itself where banks and other traditional lenders have become more selective. Continue Reading AB CarVal Buys $340 Million Construction-Loan Portfolio as Private Credit Moves Deeper Into Housing