NEWPORT, RI, October 8, 2013 - Gustave White Sotheby’s International Realty, a luxury real estate firm based in Newport, Rhode Island, today announced the sale of a Newport landmark, the historic Audrain Building on Bellevue Avenue. The property sold for $5,500,000. Realtor David Huberman of Gustave White Realty, brokered the sale.
According to MLS records, the sale represents the highest price garnered for a Newport commercial property this year.
Located on Bellevue Avenue at the “entrance” to Newport’s mansion district, and built by Adolphe Audrain, a New York merchant whose summer residence was “Restmere” on Miantonomi Avenue, the Audrain Building was designed by architect Bruce Price, a prominent architect known for the Chateau Frontenac in Quebec as well as some of the first New York skyscrapers and many shingle-style residences in Tuxedo Park, New York. Mr. Price's daughter was Emily Post, who became the American authority on proper etiquette.
“This transaction, like many other multi-million dollar sales in Newport County of late, is just another positive sign of consumer confidence and spending in our local market,” says Paul Leys, owner-broker of Gustave White Sotheby’s International Realty.
To contact Mr. Leys or Mr. Huberman, please call Gustave White Sotheby’s International Realty at 401.849.3000.
About Gustave White Sotheby’s International Realty
Gustave White Sotheby’s International Realty is a full-service agency specializing in waterfront and luxury real estate and serving all of Rhode Island, including Block Island, as well as southeast Connecticut and coastal Massachusetts. Gustave White has been in business for over 80 years as a leader in the luxury market and became Sotheby’s first affiliate in 1976. Gustave White is also the Rhode Island Regent member of Who’s Who in Luxury Real Estate. Paul A. Leys, Co-owner of Gustave White Sotheby’s Int’l Realty, may be reached at 401-848-6706 or at [email protected] for more information (http://www.gustavewhite.com/).
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational, and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.