NARRAGANSETT, RI – May 14, 2021 – Lila Delman Compass continues to lead Rhode Island’s luxury market with the record sale of ‘Shangri La’, 79-85-91 Shore Road in Bristol, for $4,950,000. John Hodnett, Senior Managing Director of Lila Delman Compass represented the seller alongside Kristin Parella, Lila Delman Compass Sales Associate. Kristin Parella also facilitated for the buyer in this sale. According to data maintained by the RI Statewide MLS, this transaction marks the highest sale in Bristol since 2017, when Lila Delman Compass also sold ‘Wind Hill’, 55 Ferry Road, for $6,750,000.*
Year-to-date Lila Delman Compass has participated in three of the top five single-family home sales statewide. Having represented more buyers and sellers than any other firm, Lila Delman Compass is on track to maintain their position as the number one luxury brokerage in Rhode Island for the 12th consecutive year.*
“The velocity of the Rhode Island real estate market continues despite low inventory,” commented John Hodnett, Senior Managing Director of Lila Delman Compass. “Although we are coming out of this pandemic, the desire for waterfront multi-generational family compounds with proximity to major cities remains high.”
Kristin Parella commented, “This extraordinary property required sensitive expertise in the luxury sector to cultivate a buyer pool who would fall in love with this glorious property. With perseverance and consistency, we found the perfect buyer. I am forever grateful to work with such wonderful clients, whether buying or selling.”
Located in Bristol Highlands, “Shangri-La”is an extraordinary collection of three homes on 1.4 acres of shoreline offering breathtaking gardens, a koi pond, and a private beach. This exceptional estate consists of a Main House, a Guest House, staff quarters, and a magnificent Tea House, including a large heated greenhouse to serve the estate. Nurtured over 30 years, this home is a sanctuary of natural beauty. The Main House is single level living intimately designed to capture expansive views of the bay. Cathedral ceilings throughout are accented by timber beams; the west facing walls are a series of glass doors opening to an expansive teak lanai. The Guest House offers two levels of living space, ideal for entertaining. The first level features a state-of-the-art kitchen, climate-controlled wine room and butler’s pantry, and a living room that opens to the pool and outdoor dining area with steps to the private beach. The entire compound offers spectacular views of the bay, streaming in from the many windows throughout the home.
*Highest sale representation is based on information from the RI Statewide MLS for the period of January1 2017 – May 14 2021. *#1 luxury ranking based on highest volume of $1M+ sales in RI each year, based on information from RI Statewide MLS for period January 1 1993 – December 31 2020. Neither Lila Delman Compass nor the MLS guarantees or are responsible for the accuracy of the data provided to them. Data maintained by the MLS may not reflect all real estate activity in the market. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.