Historic Homes in Ocean State Attract High-End Buyers
The Wall Street Journal, August 4 - 5, 2007 by Meta L. Levin
Mike Smith loves the ocean view from his office on the third floor of his familiy's vacation home in Newport, R.I. Drawn by the picturesque vistas and the area's history and vibrant community, Mr. Smith, who asked that his real name not be used to protect his family's privacy, bought the $5.5 million prairie-style home with his sister last February.
"It has a real family feel," he says about Newport. "We chose the location for its beauty and because there is something going on all the time,even in mid-winter."
With their stunning ocean views, connection to American history and architecturally significant homes and estates, areas like Newport and Watch Hill, R.I. are attracting increasing interest from high-net-worth buyers from New York, New Jersey, Connecticut and Boston. Known as "The Ocean State," for its naval history and proximity to water, the locale is easily accessible from those metropolitan areas.
"High-profile people are starting to explore the Newport area as a change from The Hamptons, especially with the spectacularly interesting properties," says Melanie Delman, president of Lila Delman Real Estate in Narragansett, R.I. "Every house seems to have some kind of story." According to Ms. Delman, some homes that have been in families for generations are coming on the market and new families are arriving to start their own traditions. She recently listed "Seaweed," an $11.5 million oceanfront estate that had been owned by the same family since the late 1800s.
Newport boasts mild temperatures and encompasses three communities: Newport, Middletown and Portsmouth. It once was home to families who built their fortunes in the 19th and early 20th century, like the Astors and the Vanderbilts. History abounds and Newport with its ties to the Revolutionary War, claims to have more standing buildings built before 1830 than any other American community. The area is also home to the U.S. Naval War College...
...Architects Stanford White, George Champlin Mason, Horace Trumbauer and Richard Morris Hunt are among the well-known designers represented in the area and the Historic Point neighborhood is home to houses that date back to colonial times. Ms. Delman recently listed for sale a $14.5 million mansion, a mid-19th century collabration between Richard Morris Hunt, considered by some the father of American architecture, and Frederick Olmstead, the founder of American landscape architecture. The castle-like home is the "quintessential Ocean Avenue house," says Ms. Delman...
...Considered the sailing capital of the world and home to the America's Cup for more than 100 years, Nepwort offers mooring, docking, yacht clubs and plenty of boating opportunities. Many oceanfront estates, such as Hammersmith Farm, former home of Jacqueline Bouvier Kennedy Onassis's mother and stepfather, Janet and Hugh Auchincloss, can be seen only from the water, and are favorites of tourist boat owners. Waterfront homes and estates command the highest prices in Newport.
Originally settled by Niantic Indians in the 1600s Watch Hill is located on a peninsula, surrounded on three sides by the Atlantic Ocean and across Little Narragansett Bay from Connecticut. During the French and Revolutionary Wars the area served as a strategic lookout point and has been called Watch Hill ever since. As if to underscore the point, a statue of Niantic Chief Ninigret looks out at the harbor.
Like Newport, Watch Hill is home to history, architecture, and water. Of the 15 single- family homes now on the market, the most expensive is an $18.9 million estate...
...Watch Hill caters to sailors with boat yards on the Pawcatuck River, yacht clubs and deep-water mooring...
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The Wall Street Journal, August 4-5, 2007
By Meta L. Levin |
