Newport Mansion Sells for $16.1 Million

February 19, 2016

Newport Mansion Sells for $16.1 Million

Melanie Delman of Lila Delman Real Estate International announced the sale of “Fairholme” and represented the seller and facilitated for the buyer. The property, which sits on 4.3 acres with ocean frontage, closed for $16.1 million, according to data from the statewide Multiple Listing Service. The buyer, Fairholme LLC has chosen to remain anonymous.

 The 1875 Tudor revival is considered a masterpiece and it includes a grand Horace Trumbauer designed ballroom, endless rooms, carriage house, greenhouses, tiled swimming pool and a cabana pavilion that overlooks the Atlantic.

 “Fairholme is one of the most beloved estates in Newport,” Melanie Delman said.

 The property was remodeled in 1905 by John R. Drexel. Under the Drexel’s ownership the home had many notable visitors including The Duke & Duchess of Windsor, and President John F. Kennedy whose family would often use the pool in the summers. Robert A. Young and his wife Anita O’Keeffe, sister of Georgia O’Keeffe acquired Fairholme in 1955. They had one daughter, Eleanor “Cookie” Young, who became one of the much-publicized “Glamour Debutantes” of the Great Depression -era.

 ABOUT LILA DELMAN REAL ESTATE INTERNATIONAL

Lila Delman founded the company’s original office in Narragansett over 50 years ago. Since then, Lila Delman Real Estate International has grown to include 6 strategically located offices, over 90 associates, a marketing department that creatively uses online social media, and an award winning website. Utilizing international marketing partners such as Christie’s International Real Estate, Mayfair International Realty and Luxury Portfolio, the firm is consistently a frontrunner in the luxury market. For more information, please visit LilaDelman.com.

 For more information please contact Melanie Delman at Lila Delman Real Estate International, at melanie.delman@liladelman.com.

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* #1 LUXURY RANKING BASED ON HIGHEST TOTAL DOLLAR VOLUME OF THE TOP 10 HOME SALES IN THE STATE OF RI FOR 2016. ALL REPRESENTATIONS IN THIS PRESENTATION ARE BASED IN WHOLE OR IN PART ON DATA SUPPLIED BY THE STATEWIDE MLS. THE MLS DOES NOT GUARANTEE AND IS NOT IN ANY WAY RESPONSIBLE FOR ITS ACCURACY. DATA MAINTAINED BY THE MLS MAY NOT REFLECT ALL REAL ESTATE ACTIVITY IN THE MARKET.
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