This exceptional Block Island property proudly stands along Corn Neck Road, commanding attention with its remarkable 7833 square feet of contemporary sophistication. Comprising a main house, barn, a delightful two-bedroom guest cottage, and a pool house, it completely redefines the notion of a luxury beach residence on Block Island, unveiling a hidden gem that exceeds expectations. Architecturally designed with Hemlock post and beam construction, the main house and barn boast clean, elegant lines and intricate detailing, seamlessly integrating indoor and outdoor living spaces that offer sweeping views of the island. The Guest Cottage, exuding timeless charm, seamlessly blends into the meticulously landscaped property, featuring a brick patio, two guest suites, an inviting living area, and a balcony all showcasing breathtaking vistas. The entertainment hub of this oasis begins at the pool area, where a saltwater pool and a well-appointed pool house await. Complete with a kitchen, built-in grill station, a cozy Brick Room with a gas fireplace, and a half bath, this space is ideal for both starting and ending your day in style. Just beyond the pool's stone wall lies an open, conserved lot leading to the East Side beaches via the Clay Head Trail. This property embodies a lifestyle of tailored simplicity, offering nearly every amenity you could desire for a Block Island retreat, making it the perfect canvas to create your home.
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Our Executive Mortgage Banker:
Our Insurance Division:
$8,500,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $6,800,000 | $6,800,000 | $6,800,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 7.125% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.531% | 7.228% | 7.041% |
Monthly Tax Payment | $1,982 | $1,982 | $1,982 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $42,423 | $45,813 | $60,646 |
Total Monthly Payment | $44,530 | $47,920 | $62,753 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.