Going, going, gone! Carnegie Abbey Club sells for $8.8 million

PORTSMOUTH, R.I. — One limited liability corporation outbid all participants to purchase the entire Carnegie Abbey Club’s leasing rights for more than $8 million Tuesday.

The auction included multiple properties, marina holdings, an equestrian facility, and an 18-hole golf course.

 

Justin J. Manning, president of JJManning Auctioneers, who oversaw the auction, said he could not release the name of the winning bidder, but confirmed there was one bidder who purchased the entire five groupings.

“I cannot disclose the name,” said Manning. “But I can tell you the entire Carnegie Abbey membership was cheering and happy after the bid.”

The president of JJManning Auctioneers also confirmed the winning bid came from a limited liability corporation or LLC. The winning bid for all groupings – $8,805,000.

 

The properties, previously developed by J. Brian O’Neill, are just the latest to be auctioned.

Velocity NBC LLC acquired the Newport Beach Club, a residential community in Portsmouth, for $10.225 million this past August. JJ Manning Auctioneers also recently auctioned off a stretch of undeveloped land near Weaver Cove and Burma Highway.

Tuesday’s auction included large areas of Aquidneck Island’s northwest side, including land at the end of Willow Lane, the Carnegie Abbey golf course, and the equestrian facility.

More specifically, the addresses and groupings include:

Grouping 1 (Golf Course, 17th Hole Lot, Equestrian Center, Liquor License)
0 Cory’s Lane, Portsmouth, RI (AP 32 Lot 1)
0 Cory’s Lane, Portsmouth, RI (AP 32, Lot 1-1)
0 Cory’s Lane, Portsmouth, RI (AP 32, Lot 1-A)
325 & 335 Cory’s Lane, Portsmouth, RI (AP 32, Lot 2)
285 Cory’s Lane, Portsmouth, RI (AP 32, Lot 2-1)
185 & 163 Cory’s Lane, Portsmouth, RI (AP 32, Lot 3)
285 Cory’s Lane, Portsmouth, RI (AP 32, Lot 3-1)
125 Cory’s Lane, Portsmouth, RI (AP 32, Lot 3-CA)
515 West Main Road, Portsmouth, RI (AP 32, Lot 5)
269 West Main Road, Portsmouth, RI (AP 32, Lot 8)
0 Depot Avenue, Portsmouth, RI (AP 26, Lot 1)
225 & 275 Depot Avenue, Portsmouth, RI (AP 26, Lot 1-CA)
717 West Main Road, Portsmouth, RI (AP 38, Lot 4-B)
0 Carnegie Harbor Drive, Portsmouth, RI (AP 26, Lot 2D)
0 Brownell Lane, Portsmouth, RI (AP 22, Lot 4)
0 Mare Terrace, Portsmouth, RI (AP 22, Lot 10)
Class D Liquor License

Grouping 2 (Marina Parcels)
0 Willow Lane, Portsmouth, RI (AP 26, Lot 2C)
formerly Master Unit 4 of the Carnegie Harbor Condominium
0 Willow Lane, Portsmouth, RI (AP 26, Lot 3)
379 Willow Lane (AP 26, Lot 4-15)

Grouping 3 (6.2A Lot Intended for 36 Unit Condo Development)
0 Willow Lane, Portsmouth, RI (AP 26, Lot 10)
formerly Master Unit 5 of the Carnegie Harbor Condominium

Grouping 4 (2.53A Parcel with Potential for 3 House Lots)
95 West Main Road, Portsmouth, RI (AP 27, Lot 1)

Grouping 5 (Entirety)
Mortgagee reserves the right, but not the obligation, to sell the prior groupings in the entirety at this time

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