When a Picture is worth more than a thousand words. Yes, on a private road this waterfront Narragansett home for sale sits serenely unoccupied for the last 8 years! It seems that another Ponzi like schemer on a smaller scale than Bernie Madoff was having the time of his life here too. While he built 2 waterfront Narragansett RI homes, he bamboozled his financial victims out of about $1.4 billion.
This scoundrel with a residence in Florida (his residence there was 9200 square feet in Fort Lauderdale) had this Narragansett property seized, along with others, by the U.S. government and put up for sale. There is far more to this story that may later be revealed. Would not want to speculate further until I am sure the house is ruled out as a possibility by my clients. However, the Ponzi guy never was able to enjoy the homes here...he was caught before he could enjoy them...in fact no one has enjoyed this house at all.
The home is one of two waterfront Narragansett homes that are for sale and at $1.7 million for this one it is not an unreasonable price. It certainly is an incredible acre home with dock and a stunning waterview. Location, location, location. You can sail right out through the breakwater and Block Island is just a short excursion away.
Previewing it with my clients today, the characters behind the house can be oh so fascinating...we will see what comes to pass on this one. Looking for waterfront in Narragansett or beyond? Call me for trusted guidance at 401.529.7849. I must say that it is oh so interesting when a picture is worth more than a thousand words!
Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the Narragansett RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage. When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman a purveyor of Fine Waterfront RI Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.
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cell: 401.529.7849 office: 401.884.4100 ext.268 Ginny Lacey Gorman, Realtor