News Summary
Residential Properties Ltd. has marked a milestone in Providence’s real estate market with the sale of 730 Elmgrove Avenue for $5,459,827. Recognized as the highest residential sale price in Providence County since June 2024, this transaction is now the third-highest in local history. The property, known as the Robert L. & Caroline S. Gilman House, showcases significant renovations that blend historic charm with modern amenities, led by Hill & Harbor Design+Build. The sale underscores the growing demand for luxury real estate in the area.
Providence – In a remarkable real estate transaction, Residential Properties Ltd. has announced the sale of 730 Elmgrove Avenue for $5,459,827, marking the highest residential sale price in Providence County since June 2024. This historic sale is now recorded as the third-highest residential sale in the history of Providence County.
The property, which is recognized as the Robert L. & Caroline S. Gilman House, is situated on the sought-after Upper Elmgrove Avenue in Providence’s East Side. Originally constructed in 1931, the residence is notable for its brick exterior and architectural significance.
The transaction was brokered by RPL Sales Associates, with Derek Simpson representing the seller and Jim DeRentis assisting the buyer. Residential Properties Ltd. has now participated in eight of the ten highest residential sales recorded in the history of Providence County, showcasing the agency’s strength in the local real estate market.
Property Renovations and Features
The Gilman House underwent extensive renovations executed by Hill & Harbor Design+Build. The renovations aimed to preserve the home’s historic character while integrating modern conveniences. Key changes included a comprehensive reconfiguration of the interior floor plan, which led to the creation of a significantly expanded kitchen.
The newly designed kitchen boasts a walk-in pantry and is enhanced with custom millwork and premium appliances, ensuring both functionality and aesthetic appeal. Additionally, the primary suite features bespoke elements such as dual closets, with one cleverly concealed behind a door that resembles a bookcase. The primary bathroom is luxuriously appointed with Calacatta Viola marble, offering a lavish experience for the homeowner.
Another standout feature of the property is a new rear solarium that connects the main house to the garage, providing both beauty and practicality to the residence. This type of feature aligns with current trends in luxury home design, which prioritize open and airy spaces.
Key Individuals in the Transaction
Derek Simpson, an associate at RPL and a lifelong resident of Rhode Island, brings a background in design and property restoration to his real estate practice. His expertise played a vital role in facilitating this high-profile sale. On the other hand, Jim DeRentis, recognized as the firm’s top-producing agent, has achieved over $100 million in sales in 2024 alone, further solidifying his reputation in the luxury real estate market.
Market Context and Historical Significance
The sale of 730 Elmgrove Avenue not only highlights the robust demand for high-end residential properties in Providence but also marks a significant milestone in the history of the local real estate market. The Gilman House’s sale is indicative of growing interest in luxury homes, particularly those that maintain their historical significance while offering modern amenities.
Residential Properties Ltd. continues to lead the way in high-value transactions in Providence, reflecting a healthy and competitive market for residential real estate. The agency’s role in eight of the top ten sales further emphasizes its impact on the industry locally.
For more information on properties and listings in the Providence area, prospective buyers can explore the offerings from both Derek Simpson and Jim DeRentis through their respective real estate platforms.
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Additional Resources
- GoLocalProv: RPL Closes One of the Top 3 Providence Sales in History
- Wikipedia: Real Estate
- Newport Buzz: RPL Closes One of the Top 3 Providence Sales in History
- Google Search: Providence Real Estate Market
- Valley Breeze: High Priced Home Sales Jumping Each Year in North Providence
- Google Scholar: Real Estate Trends in Providence
- Providence Journal: RI’s 10 Most Expensive Home Sales in 2024
- Encyclopedia Britannica: Real Estate
- Boston.com: Providence Hottest Housing Market Not Boston
- Google News: Providence Real Estate Sales
