News Summary
The 18th-century John Mawney House in Providence, Rhode Island, has been sold for $1.8 million. Represented by Compass Providence’s Kira Greene, this sale underscores Greene’s prominence and the growing influence of her agency in the local real estate market. The house, which boasts historical significance and connection to H.P. Lovecraft, demonstrated the evolving dynamics of Rhode Island’s housing market, attracting out-of-state buyers amidst rising prices.
Providence, Rhode Island — The historic John Mawney House, an 18th-century property located at 135 Benefit Street, has been sold for $1.8 million. The transaction was facilitated by Compass Providence, with Kira Greene, the founding agent of the real estate agency, representing both the buyer and the seller.
This sale is significant as it highlights Compass Providence’s expanding influence in the local real estate market, marking the company’s participation in 10 of the top 15 single-family home sales on Providence’s East Side. Notably, Kira Greene has played a role in seven of these top sales, underscoring her prominence in the luxury real estate sector of the area.
The John Mawney House, featuring a distinctive central chimney and seven fireplaces, is not just a home but a piece of history. The property includes four bedrooms, two and a half baths, and is listed on both the National and Rhode Island State Registers of Historic Places. Its cultural significance is further enriched by its connection to prominent literary figure H.P. Lovecraft, whose aunt once resided in the home. The house has also received recognition from the Providence Preservation Society for its historic value.
Kira Greene’s involvement in this notable sale further cements her reputation as the #1 Realtor on the East Side of Providence, based on closed sales volume and number of transactions year-to-date. In 2024, Greene achieved the remarkable feat of ranking #3 statewide and #2 on the East Side in terms of closed sales volume, totaling over $72 million. Her portfolio includes 26 transactions of properties valued over $1 million within the Rhode Island luxury market in 2024 alone.
The Rhode Island housing market is currently experiencing increasing sales prices amid a challenging environment characterized by low inventory and slow construction rates. The median sales price for single-family homes surged to $512,750 in May 2023, marking a significant milestone as it broke the half-million dollar barrier. Over the past five years, home prices in the state have nearly doubled, as noted by the Rhode Island Association of Realtors. Out-of-state buyers are playing an increasingly crucial role in this evolving market, with approximately 23% of buyers coming from out of state in the past year, up from 15% in 2016. This trend reflects a growing attraction to Rhode Island as buyers from more expensive markets, such as Massachusetts, seek more affordable housing options.
The ongoing demand for homes in Rhode Island is supported by anecdotal evidence from several families who have relocated to the state in pursuit of its comparatively lower home prices. Many of these families report finding larger homes for similar costs as they faced in their previous states, making Rhode Island increasingly appealing amidst a backdrop of rising housing costs.
As the market continues to evolve, the recent sale of the John Mawney House stands as a testament to the enduring appeal of historical properties and the shifting dynamics within the Rhode Island real estate landscape.
Deeper Dive: News & Info About This Topic
HERE Resources
Providence Sees Historic Home Sale
Providence Historic Home Sold for $2.3 Million
Historic Benefit Street Home Listed for Sale
Historic John Mawney House Sold for $1.8 Million
Additional Resources
- Providence Journal: RI Real Estate Transactions
- Wikipedia: Real Estate
- Boston Real Estate Times: Brentwood Sale
- Google Search: Rhode Island Housing Market
- Boston.com: RI Real Estate for Out-of-State Buyers
- Encyclopedia Britannica: Real Estate
- GoLocalProv: Boston’s Top Planner Conference
- Google News: Rhode Island Real Estate News
- WPRI: How to Calculate Property Taxes
- Rhode Island Current: Tax Levy Bill Update
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
