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Nelson Taylor Featured in the Wall Street Journal
TAKING A CHANCE
Nelson Taylor, a realtor and founding partner of the Blackstone Team at Mott & Chace Sotheby’s International Realty in Providence, says he “tries to protect first-time homebuyers and other buyers without deep pockets who are not comfortable with removing those contingencies entirely. They can do this by putting a cap of, say, $40,000 to $50,000 on an appraisal waiver.”
“Many are also not comfortable removing an inspec- tion of a property before they buy it,” he says. “So we put a clause into their contract saying they reserve the right to conduct an inspection but will not negotiate any individual items that come up during an inspection that will cost less than $10,000 or $20,000 to repair.”
A third concession is the subject of a cautionary tale. Taylor explains, “Our market is extremely tight now, and lots of sellers don’t have a place to go. I often suggest that younger buyers who are living in flexible situations like rentals allow their sellers to live in the home rent-free after the closing for 45 to 90 days. This is a big issue for sellers who are waiting for a new home to be finished or are still looking for a new home to purchase. The incentive often closes the deal for my buyers.”
Unless, of course, the sellers have a suitable hous- ing contingency, which allows them to back out of the deal if they cannot find a new home to purchase. This is what happened to a Manhattan couple this summer. They were renting an apartment and after their baby was born in the spring, they started making frequent trips to Barrington, Rhode Island, where the wife had grown up and her parents and siblings still live. “I felt trapped in the city,” she says. “The baby hated her stroller and I didn’t want to take her on the subway. Since my husband can work remotely, we thought why not move up here?”
WATCH OUT FOR SQUATTERS
They started working with Taylor. “The first place we really liked, we lost to an all-cash offer with no contingencies,” her husband explains. “We were very sur- prised when our offer on the next house was accepted. The sellers had a clause in their contract that said the sale was subject to them finding suitable housing. Since our lease wasn’t up until September, we wanted to be flexible. We gave them 30 days to look for a new house, then 30 days more. By the middle of August, they were still there and our mortgage agreement, at a rate that was just over 6%, and our apartment lease, were about to expire.”
The couple scrambled through options. “We could move to Rhode Island, put our furniture into storage and move in with my mother or into a short-term rental,” the new mother says.
“Or sign a one-year lease in Manhattan and hope the sellers could find a suitable home soon,” her husband adds. “But we’d have to refinance at a higher interest rate.”
Finally, at the end of August, the sellers cancelled the contract and gave the couple the right of first refusal if, and when, they do find an appropriate new home. “I think buyers don’t have a lot of leverage here,” the husband observes. “The sellers have a house in a good school district and neighborhood. They can always find another buyer.”
“I’m not angry,” the wife concludes. “They didn’t go into this looking to disappoint a young family. They put in five offers on different properties and didn’t get them. We are all victims of the current housing market.”
Read full article here
The Blackstone Team of Mott & Chace Sotheby’s International Realty Launches Blackstone LUX
The Blackstone Team of Mott & Chace Sotheby’s International Realty has launched BLACKSTONE [LUX] Luxury Leasing Services. Focused on quality semi-luxury to luxury leasing in Greater Providence, The Blackstone Team has created an inaugural residential leasing division focusing on connecting discerning lessees with quality properties.
BLACKSTONE [LUX] at Mott & Chace Sotheby’s International Realty is the leasing arm of one of Rhode Island’s most established and successful real estate teams. By creating a solution to Providence’s often disjointed and disorganized rental business, The Blackstone Team has implemented a luxury leasing service that matches the brand and incentivizes quality tenants, top landlords, and real estate professionals to remain dependent on one another.
“BLACKSTONE [LUX] is here to up the luxury rental game in Greater Providence. It’s really the only outlet of its kind focusing on the higher end,” says Nelson Taylor, Managing Partner of The Blackstone Team.
Partner Robert Rutley adds, “We are a team of experienced, licensed and insured real estate professionals who specialize in the luxury to mid-luxury markets. We know local real estate and are ready to be a trusted partner every step of the way.”
BLACKSTONE [LUX] will focus on quality leasing opportunities for both tenants and landlords in the following nine neighborhoods: East Side (Providence), Downtown (Providence), Elmhurst (Providence), West Side (Providence), Oak Hill (Pawtucket), Rumford (East Providence), Edgewood (Cranston), Pawtuxet (Cranston), and Gaspee (Warwick).
“We understand the process of securing top-tier housing for tenants and quality tenancies for upper-end landlords,” adds Ben Guglielmi, Leasing Specialist of The Blackstone Team. “Through existing marketing channels, long-time relationships, and proven vetting skills, we are the experts you want in your corner.
To learn more and get started today, please visit https://www.the-blackstoneteam.com/ or contact Robin Lake at 401.214.1524 or blackstone.team@mottandchace.com.
Mott & Chace Sotheby’s International Realty Sells The Henry Mumford House
Mott & Chace Sotheby’s International Realty is pleased to announce the sale of the Henry Mumford House. Both units of the home at 13 Cushing Street sold this week. Unit 1 has sold for $1,250,000 and Tyler Bernadyn of Remax Professionals of Newport represented the buyer. Unit 2 has sold for $975,000 and Rebecca Mayer of Residential Properties, Ltd. represented the buyer. The seller of both units was represented by The Blackstone Team of Mott & Chace Sotheby’s International Realty.
According to data available from Rhode Island Statewide Multiple Listing Service, the sale of 13 Cushing Street, Unit 1 is the highest condominium sale on the East Side of Providence since January of 2004 and the second highest recorded East Side condominium sale in MLS history. The sale of 13 Cushing Street, Unit 2 is the third highest condominium sale on the East Side of Providence this year and the twelfth highest recorded East Side condominium sale in MLS history.
The Henry Mumford House, a high style c.1847 Italianate located on the East Side of Providence’s sophisticated College Hill is comprised of two remodeled units featuring luxurious finishes, modern updates and opulent historic touches.
With over 4,300 square feet, Unit 1 boasts three bedrooms with ensuite bathrooms, high ceilings, original woodwork, a wine cellar, a masterfully designed cook’s kitchen, a heated two car garage, and private outdoor space round out this cultivated luxury experience.
Unit 2 is a two-story townhouse with 3,300 square feet of living space and three bedroom suites, a personal elevator accesses all floors, and a vaulted living room with 20-foot ceilings. The designated outdoor space includes a 300 square foot historic outbuilding, perfect for studio, office or homeschooling classroom.
“The Henry Mumford house is an exceptional condo offering that combines the elegance and style of historic Providence with smart home technology and best modern amenities available,” Robert Rutley says about the home. “It has been our pleasure to partner with the buyers’ agents and we wish all the new owners many years of happiness in this home that is like no other.”
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 for the period of 01/01/2008 through 11/23/2020.
Mott & Chace Sotheby’s International Realty Announces Significant Sale on the East Side of Providence by The Blackstone Team
Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 9 Phillips Street, 21 Observatory Avenue, and 12 Observatory Avenue as a package for $1,362,500. The seller was represented by The Blackstone Team of Mott & Chace Sotheby’s International Realty. Shamila Ahmed of Steele Realty Consultants LLC represented the buyer.
Located adjacent to the Ladd Observatory, the three homes in the Hope neighborhood on the East Side of Providence have been owned by one family for over 60 years. Over the decades, the properties have served as both personal housing and investment opportunity.
“Sellers with unique offerings often come to us, because they know we’re creative and diligent,” Nelson Taylor, Managing Partner of The Blackstone Team says. “We felt it was important to offer the three properties as one package in order to achieve not just the highest and best price, but the smoothest sale. We knew it was a very unique opportunity for the right buyer.”
The package of three recently updated properties offers the buyer a total of 14 bedrooms, five- and one-half bathrooms and over 6,600 square feet of living space.
Mott & Chace Sotheby’s International Realty Announces The Blackstone Team
Mott & Chace Sotheby’s International Realty is excited to introduce The Blackstone Team, a new class of real estate team bringing together the talents of agents Nelson Taylor and Robert Rutley. Formerly known as Taylor & Associates,The Blackstone Team includes Nelson Taylor, maintaining his role as Managing Partner; Robert Rutley, newly appointed Partner; Robin Lake, Client Coordinator; Benjamin Kean, Associate Agent; and introduces Karen Wilder and Ben Guglielmi as Associate Agents. “I am happy to join Nelson in the next evolution of Providence real estate,” Rutley says. “Our combined experience will elevate our high standard of hard work, integrity and honesty. While we are powerful agents in our own rights, this next level of collaboration will give us a greater ability to offer the best service and advice to our clients.”
The Blackstone Team is revolutionizing the team approach to real estate by continuing to expand its collaborative, familial-style business model, including coordination staff, personal marketing funds, support structure, profit sharing, and retirement packages. Additionally, the team is making strides to innovate within the industry by pledging a higher level of fiduciary responsibility; demanding a fair, honest and even marketplace amongst its colleagues; and lobbying for the end of the practice of Dual Facilitation.
“From this moment forward,” Taylor says, “we will not practice Dual Facilitation, the double-ending of real estate transactions.” Dual Facilitation, legal in Rhode Island, is the practice of a single agent assisting both the buyer and seller in a single transaction without representing either party and earning both sides of the commission. “We believe strongly that every client deserves full representation,” Rutley says. “The Blackstone Team will be working with local and national boards of REALTORS to end the practice in Rhode Island and beyond.”
The Blackstone Team will continue to elevate their relationship with the Mott & Chace Sotheby’s International Realty brand. “We look forward to continuing to leverage the world class marketing and presence available to us and our clients,” Taylor says. Rutley adds, “We’ve worked hard to build lasting relationships with the agents within the Sotheby’s International Realty brand regionally, nationally and internationally. Not only are we partners in marketing our properties to more than just the local marketplace, but we know where buyers are coming from and we have relationships in markets around the world.”
“We have taken a pivotal step of turning the me into a we in order to better serve our clients, each other as agents and the communities in which we work,” Rutley says. About the name, Taylor explains, “Blackstone represents so much in the marketplaces in which we work. It’s the last name of one of our first settlers. It’s become a street, a boulevard, a neighborhood, a school, a historical society, a canal, a river and a valley—just to name a few. Synonymous with community in Rhode Island, Blackstone is a part of our local heritage.”
The Blackstone Team at Mott & Chace Sotheby’s International Realty can be found online at www.the-blackstoneteam.com, by calling 401-214-1524, or in Providence at Waterplace, 100 Exchange Street.
#GiveBackFridays: City Year
City Year Providence deploys 60 highly skilled AmeriCorps members to serve in six schools, positively impacting nearly 5,000 students. Thousands of students in Providence are at risk for dropping out. The consequences are real: Students who drop out are eight times more likely to become incarcerated and three times more likely to be unemployed. When a student drops out of school it has a lasting effect on our communities.
Mott & Chace Sotheby’s International Realty has been an active member in the City Year community for several years. In 2018, members of our team visited local Providence elementary schools and painted inspirational quotes on otherwise blank walls around campus. This year, we were invited to participate in the Gingerbread Kit Project.
Sponsored by Dave’s Marketplace, Ellie’s Bakery, Gracie’s, and Miriam Hospital, the Gingerbread Kit Project is designed to produce gingerbread-decorating kits that benefit families in need. All proceeds raised will be donated to families of Pleasant View Elementary School.
Sarah Huard, Sales Associate from our Providence office, has been an active member of City Year since graduating from college. She answered the call and asked for at least 6 volunteers to help. Within minutes, she had a full team of colleagues ready and willing to participate in the baking process.
“City Year is a vibrant part of our community and I try to do as much as possible to stay involved,” says Sarah Huard. “I was happy to join the Gingerbread Project, and delighted when so many of my colleagues and friends were just as enthusiastic and willing to engage.”
Huard, along with Carl Henschel, Doug Bell, Karen Wilder, Nelson Taylor, Ben Kean, and Robin Lake arrived at Ellie’s Bakery at 10AM on Monday morning. With the help of three Ellie’s employees and one City Year liaison, our team baked over 350 cookies in two hours.
Mott & Chace Sotheby’s International Realty agents are passionate about giving back to the community. “The team genuinely wants to help and is proud of making our communities a better place to be”, adds Huard. “City Year’s motto is #MakeBetterHappen, and as I looked around the room, I saw a level of character and unadulterated happiness, and I couldn’t help but to think we were doing just that – making better happen.”
To purchase your Gingerbread Kit, please visit elliesprov.com/product/gingerbread-kit
Mott & Chace Sotheby’s International Realty Announces Significant Providence Sales by Taylor & Associates
Mott & Chace Sotheby’s International Realty is pleased to announce several significant Providence sales by Taylor & Associates. Most recently, team members of Taylor & Associates closed 44-46 Huxley Avenue for $425,000. According to data available from Rhode Island Statewide Multiple Listing Service, this is the highest recorded three-family sale in Elmhurst. Robert Rutley, Sales Associate, represented the sellers while the buyers were represented by Benjamin Kean, Sales Associate: both of Taylor & Associates, Mott & Chace Sotheby’s International Realty.
Taylor & Associates have been instrumental in the Elmhurst neighborhood. According to data available from Rhode Island Statewide Multiple Listing Service, 10 Rosebank Drive was recorded as the highest single-family sale in 2019 and 2 Rosebank Drive was the highest single-family sale in 2018. Agents of the Taylor & Associates team represented three of the four sides of the transactions. Additionally, the team represented the buyers of 32-34 Nelson Street, the highest recorded two-family sale of the last 20 months.
“We are proud of our continued success leading us to represent the highest Elmhurst neighborhood sales,” says Robert Rutley. “Our exceptional customer service and affinity for all things Providence make us the perfect choice for buying and selling in the capital city. We are grateful all our clients who have trusted us and allowed us to put our passion for real estate to work each day.”
Media Alert | Mott & Chace Sotheby’s International Realty
Recent Significant Sales from our Associates:
97 Preservation Way, South Kingstown, for $535,000
HIGHEST CONDOMINIUM SALE IN THE PRESERVE, SOUTH COUNTY COMMONS IN OVER TWO YEARS
Michael Young and Sarah Young Collins, Sellers’ Representative
17 Selkirk Road, Cranston, for $557,000
HIGHEST THREE-FAMILY SALE IN EDGEWOOD IN 10 YEARS
Taylor & Associates, Sellers’ Representative
48 Bainbridge Avenue, Providence, for $425,000
HIGHEST SINGLE FAMILY SALE IN THE ARMORY DISTRICT IN 2018
Taylor & Associates, Sellers’ Representative
Mott & Chace Sotheby’s International Realty Announces Significant Sale in Providence by Taylor & Associates
Providence, RI (September 13, 2018) – Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 2 Rosebank Drive for $495,000. According to data from the Rhode Island Statewide Multiple Listing Service, this is the top residential sale in the Elmhurst section of Providence ever recorded. The sellers of 2 Rosebank Drive were represented by Robert Rutley, Sales Associate, and the buyers by Nelson Taylor, Broker Associate: both of the Taylor & Associates Team of Mott & Chace Sotheby’s International Realty.
Robert states, “We are proud to represent the sale of this custom-built mid-century home and are thrilled to be able to guide the new owners into their spectacular dream home on Pleasant Valley Parkway. We continue to push the market in the Greater Providence area for our sellers by using our unique skills and strategy while leveraging the luxury marketing offered by Sotheby’s International Realty.”
Judy Chace, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty states, “This home embraces city life in the quiet, walkable neighborhood of Elmhurst. Offering mid-century charm and ample storage, 2 Rosebank represents a premier opportunity for the new owners to experience the city of Providence.”
“Time and again, the Taylor & Associates team provides stellar service throughout the Providence area. We are pleased with their uncanny ability to cater to sellers and buyers at every price point,” adds Ray Mott, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty.
ABOUT MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
With a combined history of success and a reputation for representing Rhode Island’s finest properties, Mott & Chace Sotheby’s International Realty was founded by Judy Chace and Ray Mott. The firm of over 130 agents have an established record of providing exceptional customer service to their national and international clientele with six offices in Rhode Island in Barrington, Charlestown, East Greenwich, Narragansett, Providence and Watch Hill. Mott & Chace Sotheby’s International Realty combines local expertise with a world-renowned brand. Sotheby’s International Realty network includes over 22,000 sales associates in approximately 960 offices in 72 countries and territories. Each office is independently owned and operated.
For more information, visit the website at mottandchace.com
Mott & Chace Sotheby’s International Realty Announces Significant Sale in East Providence by Taylor & Associates
East Providence, RI (August 27, 2018) – Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 63-65 Greenwood Avenue, East Providence for $485,000. According to data from the Rhode Island Statewide Multiple Listing Service, this is the highest three-family sale ever recorded in Rumford. The sellers of this East Side multi-family were represented by the Taylor & Associates team of Mott & Chace Sotheby’s International Realty. The buyers were represented by Jason Gelfuso of Williams & Stuart Real Estate.
Nelson Taylor states, “Again and again, I am proud of our ability to break sales records for all types of properties in the various neighborhoods within the Providence metroplex. We are highly-skilled negotiators: and that means all the difference between a good and great price.”
“Located in sought-after Rumford, this historic home offers peace and privacy in a convenient location,” adds Judy Chace, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty.
Ray Mott, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty states, “The work of the Taylor & Associates team continues to be a driving force in the Rhode Island real estate market.”
ABOUT MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
With a combined history of success and a reputation for representing Rhode Island’s finest properties, Mott & Chace Sotheby’s International Realty was founded by Judy Chace and Ray Mott. The firm of over 130 agents have an established record of providing exceptional customer service to their national and international clientele with six offices in Rhode Island in Barrington, Charlestown, East Greenwich, Narragansett, Providence and Watch Hill. Mott & Chace Sotheby’s International Realty combines local expertise with a world-renowned brand. Sotheby’s International Realty network includes over 22,000 sales associates in approximately 960 offices in 72 countries and territories. Each office is independently owned and operated.
For more information, visit the website at mottandchace.com
