The Fairholme estate, located at 237 Ruggles Avenue on Newport’s Cliff Walk, was sold Friday for $16.1 million to Fairholme LLP, a limited liability partnership managed by a Portsmouth resident who wishes to remain anonymous.
This the the second sale of the property in less than a year. In July 2015, Fairholme was sold by John Noffo Kahn of Palm Beach, Florida, heir to the Annenberg publishing fortune to the Manchester Financial Group last July for $15 million.
The 24,000 square foot mansion boasts 15 bedrooms, 13 bathrooms, a ballroom that can accommodate 120 guests, a carriage house with six bedrooms, a five-car garage, an ocean-facing hand-tiled swimming pool with a cabana pavilion, an elevator and putting greens.
Fairholme was listed with Lila Delman Real Estate for $21,000,000.
*note – this post has been edited to reflect a request from Fairholme LLP’s management to remain anonymous.