The Far Niente oceanfront estate that sold for $5.6 million in Narragansett.
The coastal real estate market in Narragansett, Rhode Island, has seen a significant surge with the sale of Far Niente, a remarkable oceanfront estate sold for $5.6 million. This sale marks a record transaction in the Sand Hill Cove neighborhood. The home features four bedrooms, four full bathrooms, and extensive living space, highlighting luxurious amenities and architectural style. Additionally, another historic property, the Sea Meadow Carriage House, was sold for $2.7 million, reflecting the growing interest in Narragansett’s real estate market.
Narragansett, Rhode Island – The coastal real estate market in Narragansett has reached new heights with the sale of an oceanfront estate known as Far Niente for $5.6 million. This transaction marks the most expensive home sale in the area in over a year and set a new record for the Sand Hill Cove neighborhood, according to data from Mott & Chace Sotheby’s International Realty.
The recent sale surpassed any other residential transaction in Narragansett since January 2024. The property boasts four bedrooms, four full bathrooms, and one half-bathroom across a generous 4,100 square feet of living space. Built in 2014, Far Niente features a custom cedar, shingle-style design complemented by large windows, French doors, and an expansive wraparound deck.
Notably, the symmetrical three-story home contains two mirrored private en suites, complete with balconies on the upper floor. Interior highlights include two fireplaces and built-in shelving in the living area. The lower level is designed for versatility with an additional kitchen and multiple rooms that could serve as a gym, office, or art studio.
Outside, the estate is situated on a 0.49-acre lot, which has been assessed at a value of $4.29 million by the town, while the land alone was valued at $2.28 million. The previous owners, Andrew and Sandra Carpini from Smithfield, have officially transferred the property to the new buyers, Vincent and Lori Savino, who reside in Ellington, Connecticut.
The sale was represented by agents Kylie McCollough and Jennifer Crellin from Mott & Chace, with Jennifer Palm from Berkshire Hathaway HomeServices Commonwealth Real Estate facilitating the purchase for the buyers.
In addition to Far Niente, another significant sale has occurred in Narragansett, further showcasing the health of the local real estate market. The Sea Meadow Carriage House, a historic property built in 1875, was sold for $2.7 million. Located at 430 Ocean Road in the Ocean Road Historic District, the carriage house features three bedrooms and is set on a 1-acre lot.
The property includes essential amenities like two working fireplaces, wide-plank pine floors, and scenic access to Newton Avenue rocks that overlook the ocean. The recently assessed valuation of the Sea Meadow Carriage House was $2.05 million, with the land assessed at $917,200.
Keri-Ann McAlice represented the seller of the Sea Meadow Carriage House, while residential properties sales associate Kate Coogan acted on behalf of the buyer for this historic real estate transaction.
The increase in property sales prices and the number of high-value transactions indicates a robust real estate market in Narragansett. The coastal town is experiencing a surge in interest from buyers seeking both modern and historic homes, establishing it as an attractive destination for real estate investment on Rhode Island’s scenic shoreline.
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