Providence, RI According to Mott & Chace Sotheby’s International Realty, The 903 Residences at Providence Place is nearing full owner occupancy. With 25 units remaining, the condominium association is estimated to be completely owner occupied by the end of August 2022.
The firm is the only residential brokerage in the state to facilitate a large-scale condominium sell out. According to the data available from Rhode Island MLS, the brokerage sold over $25 million in total sales volume and over 90 units in 2021. Additionally, Mott & Chace has facilitated the sale of more than 206 units at The 903 Residences over the past three years with a total of $67 million in sales volume.
With the help and direction of the Mott & Chace Sotheby’s International Realty team, The 903 Residences’ management company has maximized the investment by maintaining rental cash flow with the leases in place and presenting tenants the opportunity to buy their units.
Mott & Chace Sotheby’s International Realty is the exclusive listing brokerage of the condominium units at The 903 Residences. The specialists, Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team, are the driving force in changing the structure of the established condominium association from long-term rentals to primarily owner-occupied units.
“We are thrilled with the outcome of the partnership with Mott & Chace Sotheby’s International Realty,” said Wayne Lopez, director of sales and marketing at RESIS. “A well-executed business strategy coupled with excellent marketing and knowledgeable agents helped us move the needle on this project and create more housing opportunities in Providence.”
“Due to the incredible work by the sales team, this has been an amazing accomplishment. This success of this project highlights the talent and capabilities of Mott & Chace Sotheby’s International Realty. Thank you to all!” said Ben Scungio, regional manager and team leader for The 903 partnership.
Located close to downtown attractions, the train and the highway, the complex offers amenities that include concierge services, 24-hour fitness center, pool, dog park, movie theater and parking. In-unit amenities feature stainless steel appliances with select units offering gas fireplaces and balconies. The 903 Residences provide a tranquil oasis to call home when you are not exploring the city.