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Historic Rhode Island Waterfront Social Club Listed for $9.75 Million
Sentiment: NeutralHigh Priority
What Happened?
The Reading Room, a historic five-bedroom property in Narragansett, is on the market for the first time in over 50 years, now priced at $9.75 million after a $1.2 million reduction.
Key points
- The Reading Room was built in 1880 as a social club.
- It was originally a liquor-free men's club where members gathered to read and smoke.
- The property was moved to its current location on Ocean Road in the late 1890s.
- It underwent a major restoration in 2010, preserving many original features.
- The house spans 5,099 square feet and sits on 0.69 acres.
Key insights
- The price reduction may attract more potential buyers to the historic property.
- The unique features and location could enhance its appeal in the luxury real estate market.
- The property's historical significance may increase its value over time.
Why it matters
This listing represents a rare opportunity to own a piece of Rhode Island's history.
Tags
Entities
Reading Room· LocationNarragansett· CityRhode Island· StateSotheby's Realty· Organization
Source
Times of India
