Lila Delman Compass, the leading luxury real estate company in Rhode Island, announced Monday the latest record-breaking deal brokered by Commercial Director Gregory Arakelian. Arakelian’s exceptional performance resulted in the sale of 135 Smith Avenue, a two-acre fourth-generation farm that served as the home of Appleland Orchard. The property, which includes a restored 1780 four-bedroom home, a celebrated winery and cider press, and a successful apple farm, was sold for $1.1 million, the highest commercial sale in Smithfield in five years.
As Commercial Director, Arakelian’s success comes as no surprise, given his track record of achieving significant returns for his clients in any market. Last month, he facilitated the sale of 93 Watch Hill, a 50-slip marina that traded for $2.7 million, the highest commercial transaction in Washington County in over a year. Arakelian also handled the sale of Wayfinder Newport Hotel for $14.34 million, the highest commercial sale ever in the state per the Rhode Island Statewide MLS.
“It is rewarding to successfully broker deals for such interesting and diverse properties like an apple orchard and winery,” said Gregory. “Our current portfolio of investment opportunities includes a Vineyard & Winery, a Marina in southeastern Connecticut, and a waterfront estate in Bristol.”
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