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Bidding Opens: |
Jul 06, 2009 4:00 PM |
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Bidding Ends: |
Nov 30, 2009 6:00 PM
(Central)
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Estimated Value: |
$6,500,000 |
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Contact: |
Melanie Delman |
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--- PLACE YOUR MAXIMUM BID --- |
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Note Live - DEMO - DEMO - DEMO - DEMO - DEMO - Not Live
Originally Listed at $14,000,000
Richard Morris Hunt’s Historic 1891 Stone and Shingle Masterpiece
Magnificent Views from Highest Elevation on Ocean Avenue in Newport, RI
WRENTHAM HOUSE RESTORATION RECOGNIZED IN 2008 WITH THE RHODE ISLAND HISTORIC PRESERVATION AND HERITAGE COMMISSION AWARD.
The pedigree for this spectacular granite and brownstone oceanfront estate, originally known as Indian Spring, reads like a who’s who of 19th-Century American architecture. This first collaboration between Richard Morris Hunt, legendary founder of the American Institute of Architects, and esteemed landscape designer Frederick Law Olmsted resulted in this magnificent 14,400 square-foot mansion. It was created in 1891 for yachtsman and defender of the America’s Cup J.R. Busk and is on the market for the first time in more than 50 years.
THE RESIDENCE: This 22-room masterpiece on 5 acres has undergone a meticulous restoration. Poised majestically on the highest point on Ocean Avenue, it offers spectacular ocean views from every room – even the windowed lower level. A long, winding driveway leads to the residence, which rests atop a cliff in a breathtaking natural setting. Fabulous woodwork is found throughout – along with beautiful arches, turrets, curved windows and 15 fireplaces. The home includes eight bedrooms, 13 full baths, four half baths, and additional quarters for staff. Among the highlights are a grand 1,800 square-foot master suite with his and her marble baths and an adjoining study with mahogany built-ins and a wet bar. The breathtaking living room has a cathedral ceiling, a baronial fireplace, an orchestra balcony, and three sets of French doors opening to an 80-foot ocean front porch. The mahogany-panelled library and the elegant dining room feature ornamental plaster ceilings and handsome fireplaces. French doors in the dining room lead to a cozy stone terrace. Additional amenities include a multilevel home theater, a billiard room, a wine cellar, a pair of family rooms, a gourmet kitchen with a butler’s pantry, and servants’ quarters. A hallway paneled in quarter sawn oak, mahogany paneling and doors, central air conditioning, an elevator, and state-of-the-art systems, including security, intercom, and central vacuum, complete the main residence.
Ocean Avenue is truly an address of prestige, located in an internationally renowned seaside resort with world-class sailing, private clubs, shopping, and fine dining.
Click Here for a Video Tour Click Here to see the Floor Plans of this property
Open House Previews
Saturday, June 20 - 3:00 PM - 5:00 PM
Sunday, June 21 - 3:00 PM - 5:00 PM
Saturday, June 27 - 3:00 PM - 5:00 PM
Sunday, June 28 - 3:00 PM - 5:00 PM
Saturday, July 4 - 3:00 PM - 5:00 PM
Sunday, July 5 - 3:00 PM - 5:00 PM
Last Day - Tuesday, July 7th - 5:00 PM - 7:00 PM
Or Call Melanie Delman 401-284-4820 or Kim Doherty 401-862-3956 for Appointment
Auction Conducted By Licensed Rhode Island Auctioneer
Tom Chace - Summit Auctions LLC License #5421
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TERMS & CONDITIONS AGREEMENT FOR REAL ESTATE BIDDING AUCTION WITH RESERVE.
This Auction is presented by the Seller where Lila Delman Real Estate is the Seller’s Agent and conducted by an Auctioneer. It is clearly understood and agreed by both the Buyers and the Seller that the Auctioneer and Broker REPRESENT THE SELLER ONLY. - DEFINITION: BIDDING AUCTION with RESERVE is an Auction where the property may not be sold if the final bid is not high enough to satisfy the Seller. Reserve Price is the price set in advance below which the property may not be sold. Sellers reserve the right to accept bids lower than the Reserve Price at their sole discretion.
- Buyer's Premium: A 6% buyer's premium will be added to the high bid to determine the final purchase price.
- AUCTION ACCESS: Auction will be held on the Internet.
- REGISTRATION & DEPOSIT: All Bidders are required to register prior to bidding on the auction in order to receive a Bidder’s Registration Number, which will allow the Bidder to bid online. Every prospective Bidder is required to qualify by forwarding $100,000 certified or cashiers check , payable to the seller’s attorney, Debora. D'Alessandro, Esq., D’Amico Burchfield, LLP, 536 Atwells Avenue, Providence, RI 02909, which deposit will be held by the seller's attorney until the conclusion of the auction when the check belonging to the successful bidder will be deposited into a non interest bearing escrow account. The balance of checks belonging to the unsuccessful bidders will be returned within 3 business days after the conclusion of the auction..
- All home inspections must be conducted prior to final bidding date.
- No mortgage contingencies.
- Final closing must be consummated within 30 days of the final bid being accepted.
- Seller has the right to terminate the successful bid in the event that payoffs sufficient to discharge all existing debt on the property cannot be obtained and clear title cannot be conveyed.
- DESIGNATED BROKER / BIDDER: Purchaser can bid through a designated Rhode Island State Licensed Broker, provided all conditions are met in this agreement.
- A 2% buyer's agent commission will be given from the BIDDER/BUYER PREMIUM.
- Immediately after the bidding is completed, the highest approved Bidder and the Second High Bidder (Back-up Bidder) are required to sign a Bid Acknowledge Form and a Memo of Sale will be faxed to attorneys representing buyer and seller.
- Properties are offered “As is and Where is” with any and all faults. The prospective Purchaser is advised that he or she should make a complete and thorough physical inspection of the property which he or she is purchasing and has performed due diligence of any and all zoning building codes or other requirements set by local, state of Federal authorities which may affect the property in question.
- Purchaser further acknowledges that he or she has verified the exact location, physical condition, street requirements and legal use of property. Plats provided and the description of any improvements are for information purposes only and no representations, warranties or guarantees are made concerning location, dimensions, or size or the nature, quality or suitability for use of the tract for any improvements. The Seller and Brokers have furnished this information for informational purposes only and assume no responsibility or obligation for said information. The successful bidder must accept the property “AS IS” and “WHERE IS” with regard to physical condition at the time of closing subject to a binding Real Estate Contract of Sale.
- The property shall transfer by “Bargain and Sale Deed”, free and clear of liens, but subject to any zoning, environmental protection and other municipal, federal and state laws or facts which an accurate survey and/or inspection of the tract being sold might show.
- Registered bidders shall receive a copy of the “Bid Acknowledgement” and “Memorandum of Sale” in their “Bidder’s Packet”. The Second High Bidder (Back-up Bidder) shall remain on record for three (3) weeks until High Bidder enters into a Contract of Sale. Should High Bidder default, then the Back-up Bidder shall become the Winning Bidder. The Back-up Bidder will be notified of that fact by fax, e-mail or certified mail (the “Notification Date”).
- The highest approved bidder is determined to be the buyer. In all cases of disputed bids, the property shall be resold, but, auctioneer will use his judgment as to good faith of all claims and his decision is final. No transfer shall be recognized from one buyer to another. In the case of disputed bids, the Broker/Auctioneer shall exercise his or her best discretion in determining the resolution of claims, and such decision is final. Such decision shall not be the subject of any post-auction claims.
- Auctioneer reserves the right to withdraw any property prior to or during auction. Property is subject to prior sale.
- Bidder agrees to the above Terms & Conditions of the auction prior to receiving his bidder card.
- The above stated Terms & Conditions of Auction cannot be altered except in writing by all parties of the contract, or by verbal changes to terms given by Broker or Auctioneer at time of Auction.
- Bidder does hereby indemnify and hold harmless Lila Delman Real Estate and Auctioneer/Broker and Seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever, caused during the auction.
- Purchaser(s) understand that the representations and/or agreements made regarding Purchaser’s income, credit, assets, and other factors may affect Purchaser’s ability to secure a mortgage loan. Should any such representations and/or agreements herein prove to be false and should Purchaser’s mortgage be denied as a result thereof, Purchaser(s) shall be deemed to have defaulted hereunder and Seller shall be entitled to retain the contract down payment as liquidated damages pursuant to Contract terms.
- In the event the Purchaser(s) will secure a mortgage to purchase property being offered, nothing herein shall be implied to obligate Seller to do any work items required by the Federal Housing Administration, Veterans Administration or Purchaser’s Lending Institution. Seller reserves the right to refuse to perform and comply with work requested by the above mentioned agencies.
- Winning bid is subject to Seller’s approval.
- The property sells to the Highest Bidder, subject to confirmation of Seller and a Real Estate Contract between the parties, providing clear title.
- To bid on property, the Bidder must be of legal age to enter into contract to purchase real estate (18 in most states, 21 in other). (If in doubt about the legal age to enter into contract in the Bidder’s state, the Bidder should consult with competent legal counsel before bidding).
- All bids are placed in US Dollars.
- If the bid is outbid by another Bidder, the original Bidder will receive the email notice so the Bidder can return and increase the bid if he/she so desires.
- The bidding will be open and all Bidders will have access to bid history during the Auction.
- As the Auction nears the ending time, it will auto-extend until bidding is silent for 10 minutes.
- If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
- The high bidder will be notified via email after the Auction ends.
- Seller reserves the right to postpone or cancel this Auction at any time for any reason.
- Winning Bidders shall order a title examination to establish clear title and at their option title insurance.
- Time is of the Essence for final contract.
- Sale is “as-is”, “where-is” and “with all faults”.
- It shall be the responsibility of the Buyer to pay all closing costs, including recordation fees and taxes normally paid by a purchaser.
- Successful bidder has 24 hours to put down a 10% deposit in cash, cashiers check or certified funds.
- All materials presented herein are intended for information purposes only. While this information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal notice. All property listing are approximate.
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