Mott & Chace Sotheby’s International Realty Announces Record-Breaking Sale of a Narragansett Oceanfront Estate

Mott & Chace Sotheby’s International Realty is proud to announce the record-breaking oceanfront sale of 518 Ocean Road for $12,000,000. “Sea Grace”, an ultra-luxury modern estate, is a resort-like oasis with views of the Atlantic Ocean on nearly two acres of coastline property. The seller was represented by Geb Masterson, Sales Associate of Mott & Chace Sotheby’s International Realty. The buyer was represented by Claudia Philbrick, Sales Associate of Mott & Chace Sotheby’s International Realty.

“Dramatic features and all the modern luxuries you could ask for,” says Geb Masterson. “This home is just incredible. Located in a private association overlooking Newport, “Sea Grace” exudes luxury, privacy, and style.”

The sale of 518 Ocean Road is a result of the power of the Sotheby’s International Realty brand. The advanced technology of sothebysrealty.com and the global network of resources introduced the buyer to this magnificent Rhode Island coastal home.  According to data available from the Rhode Island Multiple Listing Service, this is the highest recorded property sale ever in Narragansett, selling for 46% higher than the previous record. This is also the highest sale statewide this year. Last month, Mott & Chace Sotheby’s International Realty represented the sellers of the most expensive home in the municipality since 2018. Today, the firm has broken its own top sale record in Narragansett once again.

“We continue to hold onto our extremely strong presence in the Rhode Island luxury market,” states Judy Chace, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty. “Our company and our leadership in the market continues to grow at a steady rate and we are incredibly proud of what we have accomplished so far this year.”

Ocean Road, situated on the coast of Narragansett where the homes overlook the Atlantic Ocean, offers residents stunning sunrises and sea breezes. The sophisticated home at 518 Ocean Road allows for exceptional vistas from the elevated terrace completed with an infinity pool that magically melds back into the ocean beyond.

“Nothing says Rhode Island luxury like Ocean Road,” affirms Ray Mott, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty. “We are honored to have represented clients in the sale of this distinctive home.”

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 1/1/2021 through 5/26/2021.