Alex and Ani CEO Purchases Newport's Wyndham Estate for $6.8M
January 3, 2014 - Providence, RI
PROVIDENCE, RI--(Marketwired - January 03, 2014) - Giovanni Feroce, CEO of Alex and Ani, announced today his latest re-investment into the Rhode Island community with his purchase of a recently restored Newport mansion, the Wyndham Estate, for a $6.8M cash deal brought together by Prudential Gammons Reality's, Allen Gammons. Originally constructed in 1890, the estate is adjacent to Newport's The Breakers, Rosecliff Mansion and Marble House and is roughly 12,175 square feet with three floors of living space on 11.72 acres of property, at the highest point of Newport.
The seven bedrooms, seven bathrooms, library, grand ballroom and white Carera marble floors estate lies among the heart of Newport, RI. Originally designed by architect William Ralph Emerson, a cousin of Ralph Waldo Emerson, the recently renovated, contemporary property, brings an essence of the Gilded Age to Newport.
Growing up in Rhode Island, Feroce, is known for helping expand the fastest growing lifestyle brand, Alex and Ani, with Designer Carolyn Rafaelian, Founder and Creative Director.
"For someone who grew up in West Warwick, this move to Newport not only fulfills a childhood dream but should serve as a reminder that the American dream is alive and well -- you just have to work for it," Feroce stated. "I do not believe in reinventing the wheel. The wealthiest of Americans should reconsider making Newport home once more as it was in the Guilded Age and not limit it to a tourist attraction."
Listed by Gustave White Sotheby's International Realty, the Wyndham Estates, which will be renamed as Wyndham Hill, deal was made by Paul A. Leys, Broker-owner. "This Wyndham Estates transaction starts off 2014 in what I anticipate to be a banner year for the high end/luxury market," Leys said. "With ample inventory to choose from and more buyers getting off that proverbial 'fence' I look forward to all of our RI brokers being very busy this coming year."
"I am thrilled to have helped make this happen for Giovanni. It is great to see a landmark property like Wyndham go to such a hardworking Rhode Island businessman," Gammons added.
For more information regarding the Wyndham Estates, please visit www.wyndhamestatenewport.com.
About Alex and Ani
Alex and Ani, LLC offers eco-friendly, positive energy products created by Designer Carolyn Rafaelian, Founder and Creative Director. Alex and Ani is synonymous with Made in America. Its World Headquarters are located in the Greater Providence, Rhode Island area, where its products are designed, manufactured, and assembled using recycled local materials. Carolyn believes that every individual has a positive message to share with the world, and by incorporating powerful symbolism and design into each positive energy piece, Alex and Ani provides a vehicle for wearers to express their individuality. An Inc. 500 Company, Alex and Ani has retail stores.
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