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Engel & Völkers breaks Barrington town record for highest priced land sale since 2021
Engel & Völkers of Barrington East Bay announced today that co-owner, Emilio DiSpirito, sold a 1.2-acre waterfront lot at 56 Elm Lane in Barrington for $1.365million, making it the highest priced land sale in the town since 2021. The record-breaking transaction is also the highest price-per-square-foot and third-most-expensive land sale in Barrington, according to the Rhode Island Statewide Multiple Listing Service (MLS).
Emilio DiSpirito represented the seller, an executive vice president and chief financial officer of a prominent online travel company, who originally purchased the property for $1.6 million in 2017as a single-family home, according to MLS data. The home was torn down and after years struggling to find a buyer, the executive enlisted Emilio DiSpirito of Engel & Völkers, who procured a buyer in less than two weeks.
The buyers, based out of North Carolina, were represented by Midge Berkery of Mott & Chace Sotheby’s. The 1.2-acre waterfront lot on 56 Elm Lane is an exceptionally rare find that offers more than 207-feet of breathtaking, unobstructed views of Narragansett Bay. The property is fully cleared and connected to town utilities with no viewing easements; allowing the buyers complete freedom to build the home of their dreams at this harborside oasis. The lot is nested a few hundred yards away from the historic Nayatt Point Lighthouse and is surrounded by single-family homes with home values ranging from $2 million to $6 million.
“While this is a big win, this isn’t the first time that Engel & Völkers has represented sellers who were struggling to procure a buyer for their luxury property,” says Emilio DiSpirito, co-owner of Engel & Völkers Barrington East Bay. “Our brokerage specializes in providing maximum value for our sellers, with a quick turnaround that is unmatched by our competition.”
About Engel & Völkers
Engel & Völkers was built by two friends with a shared passion to deliver the most unforgettable, professional service experiences to real estate clients around the globe. What attracts people to our network is the notion that if you work with great people, great business follows. Embodying a culture of leadership, our greatest competition is ourselves, and status quo is not an option when client service is at the heart of our business. Our people share, collaborate and support each other to achieve both personal and professional greatness. It’s a bond. It’s a feeling. It’s global. This is us.