WESTERLY, RI — Perched on the second highest elevation on the Watch Hill peninsula stands “Treasure Hill,” a coastal estate with sweeping views of the Atlantic Ocean that just closed for $17.7 million on Monday — marking Rhode Island’s highest home sale this year to date .
Lori Joyal, an associate in Washington County for Lila Delman Company, represented the seller, who purchased the home in an auction sale for $5.5 million in 2007. Joyal told the Globe on Tuesday that the sellers completely renovated the property, including the kitchen.
“Treasure Hill,” is located at 2 Kidd’s Way in Westerly, RI The home, on a one-acre compound, spans more than 11,000 square feet with 18 rooms, seven bedrooms, and eight-and-a-half bathrooms. The primary bedroom includes a sitting room, fireplace, and bathroom that overlooks the Atlantic Ocean. The living room and kitchen, which features hand-crafted cabinetry and coffee bar, has an open concept floor plan with a grand fireplace.
A three-story elevator takes visitors to the estate’s grand pub, wine tasting room, multiple fire places, and home gym with a fitness room and sauna. An ornamental wrought iron gate connects the wine cellar to the home’s billiard and wine tasting rooms.
Outside, down a set of stone steps, is a pool house with a full kitchen and bathroom, a heated salt water pool, and cascading waterfall with views of the Atlantic Ocean.
The home’s closing also marks the second-highest sale in the history of both Watch Hill and Washington County, following a 2013 private sale of 16 Bluff Ave. for $17.75 million.
The managing broker of Lila Delman’s Watch Hill office, Joyal shattered statewide records in 2021, having individually closed more than $121 million in sales volume. She has ranked as the top individual agent in the state for the last three years and in Washington County, she was recognized as the top agent, leading by more than $80 million over the next highest-producing agent, according to the company’s website.
Joyal said 2 Kidd’s Way was listed for just 32 days, but would not confirm the identities of any previous owners. “That’s a really good turnaround,” she said.
Despite reports that the nation’s hot housing market is cooling down, Joyal said every market should be localized. In her corner of the state, where many out-of-state residents purchase vacation homes in communities like Watch Hill or Weekapaug, there’s a serious demand for high-end properties.
“There’s limited inventory and beautiful properties. They aren’t just buying a home, they are buying community, the ocean, to escape [places like] New York,” Joyal said. “This is the vacation home market. We are busy.”