Lila Delman Real Estate International sells 39 Touro Street for $1.06 million

February 10, 2017 - Rhode Island

Newport, RI The strong market for quality commercial and mixed-use properties in downtown continues to be strong as evidenced by the recent sale by Lila Delman Real Estate International of the former St Joseph’s Rectory on Washington Sq. for $1,062,500. The mixed-use property at 39 Touro St. has 8,386 s/f of gross living area situated on a lot of 8,672 s/f  currently houses three updated residential units and a first floor commercial office space with 13 onsite parking spaces.

Listing agents Paul Tobak and George Tollefson of Lila Delman’s Newport office spoke to the strengths of the property and the current market. “This landmark building enjoys the rare combination of mixed-use zoning with ample downtown parking and a premium high-visibility location. There has been significant investment, in this sector over the last two years in the downtown area and it shows no sign of slowing down as investors have recognized the long-term growth and stability of Newport commercial opportunities. Along with the relocation of Thames Street Kitchen to Washington Sq. and the extensive renovation of the Opera House, this is just one more example of the heightened interest in this area.”

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