News: Front Section
Posted: May 10, 2024
Simpson of Residential Properties Ltd. closes $2.763 million sale of 00 Reservoir Rd.
North Smithfield, RI Residential Properties Ltd. (RPL) negotiated the sale of 00 Reservoir Rd. for $2.763 million. RPL sales associate Derek Simpson represented the seller as the listing agent in this transaction.
An equine estate on 85 acres bordering the Woonsocket Reservoir, this four-bedroom, 4.3-bath contemporary colonial offers views, a chef’s kitchen, first-floor primary suite, solarium, game room, wine cellar, and more. An in-ground pool with a full cabana house is off the rear bluestone patio overlooking pastures and the reservoir. Additionally, a 24-stall barn with manager’s office, 21 grass paddocks, indoor & outdoor riding rings, and hay buildings allow for a professional equine lifestyle.
With 30 acres dedicated to haying, this portion of the property is currently leased to the Prospect Hill Riding Academy and produces $85,000-$90,000 a year.
A lifelong Rhode Islander, Derek Simpson’s passion for real estate and design began at a young age. Today, he is a skilled real estate advisor who ensures long-term client success by building trust and creating well-rounded portfolios. Beginning in 2012, he spent a decade purchasing and flipping units in downtown Providence before completing his first home flip on the East Side in 2022. In addition to his impressive record of selling high-rise condos throughout RI, he has a true gift for preserving the character of historic homes while tastefully updating them for modern needs.
According to State-Wide MLS data, this is the highest residential sale ever recorded in North Smithfield.
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