Arakelian of Lila Delman Real Estate sells marina for $1.05 million

Westerly, RI A 50-slip marina located at 93 Watch Hill Rd. has sold for $1.05 million. This commercially zoned property has two free-standing structures on over 26,000 s/f of waterfront land with western views over the water and the surrounding naturally preserved coves.

Lila Delman Real Estate International was both the listing and the selling company in this transaction. Gregory Arakelian, sales associate, represented the seller and facilitated for the buyer.

“Sited on the main artery to the classic seaside village of Watch Hill, this property has wonderful potential for retail and blue water travel to coveted nearby destinations like Watch Hill Cove, Stonington and Mystic Harbor,” said Arakelian.

This is the second marina Arakelian has sold this year.  He sold a 14-slip marina in Tiverton in April for $475,000 and prior to that, a 44-slip marina in Portsmouth in 2015 for $1.1 million.

“Lila Delman Real Estate International has been recognized for many years as the preeminent broker for luxury residential real estate in Rhode Island, and it is exciting to be a part of its effort to expand our presence in the commercial market,” said Arakelian.