Estate sells for $15M in Newport, most expensive sale in R.I. in two years

FAIRHOLME, AN estate on Newport's Cliff Walk, sold Monday for $15 million, the most expensive sale in Rhode Island in two years, according to Lila Delman Real Estate International, which represented the seller. / COURTESY LILA DELMAN REAL ESTATE INTERNATIONAL
FAIRHOLME, AN estate on Newport's Cliff Walk, sold Monday for $15 million, the most expensive sale in Rhode Island in two years, according to Lila Delman Real Estate International, which represented the seller. / COURTESY LILA DELMAN REAL ESTATE INTERNATIONAL

NEWPORT – An oceanfront estate overlooking the Cliff Walk sold on Monday for $15 million, the most expensive residential sale in Rhode Island in the past two years, according to Lila Delman Real Estate International, which represented the seller.
Known as Fairholme, the property includes 4.3 acres and 425 feet of ocean frontage, according to a news release.
The 1887 Tudor revival structure includes a ballroom designed by Horace Trumbauer, and occupies a compound that also includes a pool, a cabana pavilion, greenhouses and a carriage house.
The buyer’s identity was not disclosed.
The seller was John Noffo Kahn of Palm Beach, Fla., an heir to the Annenberg publishing fortune. He was a third-generation owner of the estate, purchased by his late grandmother, Janet Annenberg Hooker, in 1992, for $3.4 million.

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