NEWPORT, RI – August 2, 2021 – Lila Delman Compass continues to grow it’s commercial division with the recent sale of ‘Villalon’, 120 Miantonomi Avenue in Middletown, for $2,465,000. According to data maintained by the Rhode Island Statewide MLS, this transaction marks one of the top three sales in Middletown year-to-date.* This Nationally recognized historic estate, currently run as an Inn, was sold within two months of hitting the market in June by Lila Delman Compass’ Bob Bailey, Jamestown Office Manager, and Greg Arakelian, Commercial Director. Bailey and Arakelian represented the buyer in this transaction.
“The buyer and his consulting team were desirous of an Inn for a boutique hotel that could highlight the nostalgic feel of historic homes constructed on Aquidneck Island in the late 1800’s,” commented Bob Bailey. “This architectural gem offers 8 beautifully appointed guest suites, ideal for intimate gatherings such as bridal parties, family functions, or themed dinner events.”
“As trusted advisors in the art of connecting buyers and sellers with fine property, this is a testament to the importance of specialists who are capable of maximizing exposure to potential clients,” commented Greg Arakelian.
Both Greg and Bob are distinguished luxury residential sales associates who also practice in mixed-use and hospitality-zoned properties. In 2019, Greg Arakelian sold the ‘Mainstay Hotel’, 151 Admiral Kalbfus Road in Newport, for $14,340,000. According to data maintained by the Rhode Island Statewide MLS, this was the highest commercial sale ever recorded in Newport.*
‘Villalon’, an original Newport Mansion designed by Richard Upjohn, is on the National Register of Historic Homes. Once a summer residence for Hamilton Hoppin of New York, a businessman and scion of a prominent Rhode Island family, the estate was said to be an inspiration to notable architect Richard Morris Hunt amongst others. Sited on one of the largest land parcels in the area, this property is one of the most private homes available on the island. A stylishly restored 8 ensuite Italianate Villa, with commercial zoning allowance, provides endless opportunities. The interior follows a symmetrical plan. The first sequence of rooms off the hall are the library and grand dining room, framed by original mahogany paneled wainscot. Spanning over 8,900 square feet, this spacious estate has ample room for entertaining. Insulated by mature specimen trees and plantings, the home, expansive front lawn, secret garden, and original fountain create a hidden and peaceful oasis in the midst of one of the most vibrant and popular vacation destinations in the world. Located just off one of the primary roads serving Aquidneck Island, and within minutes of downtown Newport and its wonderful beaches, this property is ideally sited in the middle of it all.
*Highest sale representation is based on information from the RI Statewide MLS for the period of January 1, 2019 – August 3, 2021. * 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.