NEWPORT – Founder and designer of Cranston-based jewelry maker Alex and Ani LLC Carolyn Rafaelian has purchased Belcourt Castle in Newport for $3.6 million.
The sale of Belcourt, the third largest mansion in Newport, also included a “separate but sizable” purchase of the estate’s contents, Allen B. Gammons Jr. of Prudential Gammons Realty told Providence Business News. The terms of that deal were not disclosed.
“I have a love affair with Newport. I've fallen completely in love with Belcourt,” Rafaelian said in prepared remarks. “I am fascinated by its rich history and roots, and it’s a true honor to have the blessing from Mrs. Tinney to continue the legacy. I look forward to restoring it to its natural beauty.”
Both parties agreed that Harle Tinney will “continue to be an integral part of the evolution of Belcourt and will contribute her vast years of knowledge and experience,” according to a press release.
Tinney, whose family purchased Belcourt in 1956 for $25,000, originally put the estate up for sale in 2009 after the death of her husband.
After undergoing restoration and renovation by Rafaelian, the estate will be renamed Belcourt of Newport and will be re-opened for tours, weddings and charity-based social events.