BlogNewsPressSotheby's International Realty January 13, 2022

Mott & Chace Sotheby’s International Realty Announces The 903 Residences at Providence Place are Now Almost Completely Owner Occupied

Mott & Chace Sotheby’s International Realty is pleased to announce The 903 Residences at Providence Place is nearing full owner occupancy. With approximately 25 units remaining, the condominium association is estimated to be completely owner occupied by the end of August 2022.

The firm is the only residential brokerage in the state to facilitate a large-scale condominium sell out. According to the data available from Rhode Island Multiple Listing Service, the brokerage sold over $25M in total sales volume and over 90 units in 2021.

Additionally, Mott & Chace Sotheby’s International Realty has facilitated the sale of more than 206 units at The 903 Residences over the past three years with a total of $67M+ in sales volume.

With the help and direction of the Mott & Chace Sotheby’s International Realty team, The 903 Residences’ management company has maximized the investment by maintaining rental cash flow with the leases in place and presenting tenants the opportunity to buy their units.

“We are thrilled with the outcome of the partnership with Mott & Chace Sotheby’s International Realty,” says Wayne Lopez, Director of Sales and Marketing at RESIS. “A well-executed business strategy coupled with excellent marketing and knowledgeable agents helped us move the needle on this project and create more housing opportunities in Providence.”

Mott & Chace Sotheby’s International Realty is the exclusive listing brokerage of the condominium units at The 903 Residences. The specialists, Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team, are the driving force in changing the structure of the established condominium association from long term rentals to primarily owner-occupied units.

“Due to the incredible work by the sales team, this has been an amazing accomplishment. This success of this project highlights the talent and capabilities of Mott & Chace Sotheby’s International Realty. Thank you to all!” states Ben Scungio, Regional Manager and Team Lead for The 903 partnership.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service through 1/13/2022.