Projo Biz Blog

The Clarmar estate, a 20-room mansion set on 3.4 acres in the exclusive Watch Hill section of Westerly, will be auctioned on the premises Friday, July 31 at 11 a.m.

Beginning on July 17, tours of the estate at 16 Yosemite Valley Road will be available to interested bidders.

The auction is being handled by the J.P. King Auction Company, Inc., of Alabama and its Rhode Island broker, J.J. Manning Auctioneers of Yarmouth Port, Mass. A spokesman for J.P. King said there was no set reserve price, but the auction is not an "absolute" one, either; the owner will retain the right to accept or reject the highest bid.

The estate is listed for sale on the Statewide Multiple Listing Service for $16.3 million. Property taxes were $41,383 in 2008. The estate has been for on the market for some time; in 2005, the property was priced at $17.7 million. In 2007, the asking price was $18.95 million.

Listed in the National Register of Historic Places, the mansion, built in 1931, was designed by architect Warrington G. Lawrence.

According to Westerly tax records, owner Katherine L. Caito purchased the property in 1987 for $1,299,990. The estate has an assessed value of $4,665,600.

 Tags  Clarmar real estate Westerly

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