Sale of Newport’s historic ‘OAKWOOD’ estate

NEWPORT, RI, August 2016 — Gustave White Sotheby’s International Realty announced the sale of ‘Oakwood,’ a George Champlin Mason—designed mansion at 50 Narragansett Avenue in Newport, Rhode Island. The sale at $4,000,000 represented the second highest sale in Newport this year-to-date.

The property, located in Newport’s estate area just off Bellevue Avenue, is sited on over 5 acres of private gated grounds with gardens, fountains, pool, and tennis court. The stately Greek Revival house, built as a wedding present for Mary Alida Astor by her father in 1854, was renovated in 2006, adding state-of-the-art mechanical and electrical systems, gourmet kitchen spaces, and other modern amenities to the refined elegance of the grand period rooms

David Huberman of Gustave White Sotheby’s International Realty represented the seller; Vanderbilt International Properties brought the buyer. Paul Leys, co-owner of Gustave White Sotheby’s International Realty stated, “The sale of this iconic ‘Newport Cottage’ is one of four at or above $4 million sold in Newport in the past two years, underscoring the value of investing in these landmark properties.”

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.