Feroce’s Newport Mansion Sold at Auction for $4.175 Million, SEE Interview on GoLocal LIVE
Thursday, September 28, 2017
Giovanni Feroce's Newport mansion was sold at a bank auction for $4.175 million and was purchased by Coastway Community Bank — the bank that held the mortgage on the property.
SEE SLIDESHOW OF WYNDHAM ESTATE BELOW
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTFeroce tells GoLocal he is completely focused on building his apparel and watch company.
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Feroce, the former CEO of Alex and Ani and now the CEO of BENRUS, purchased the house just a few months before leaving Alex and Ani in March of 2014.
He purchased Wyndham Estate in January of 2014 — it is one of the most coveted Newport mansions. He paid $6.8 million dollars in cash and later took out a mortgage to help finance BENRUS.
Feroce, who grew up in West Warwick in a three decker, was not the first controversial owner of the house.
The home was designed by architect William Ralph Emerson, a cousin of Ralph Waldo Emerson. Beyond his work in Newport, he worked with fellow Boston designer Frederick Law Olmsted on the creation of the National Zoo in Washington, D.C., designing several of the zoo's first buildings.
The mansion was built for Rose Anne Grosvenor, a philanthropist from Providence. Another previous owner of note was former New England Patriots' owner James Busch Orthwien. He was chairman of one of the country's largest advertising agencies and a major shareholder in Anheuser Busch.
Boasting 12,175 square feet and three floors of living space on 11.72 acres of property, Wyndham Estate sits atop the highest point of Newport.
Seven bedrooms, seven bathrooms, nine fireplaces, tiger oak hardwood and white Carera marble floors, a brand new 456,000 BTU Buderus G315 boiler, library, grand ballroom, home theatre and manmade pond with a three tier waterfall are among the unique amenities.
EDITOR'S NOTE: This story was originally publish on September 27, 2017. The interview on GoLocal LIVE was broadcast on Wednesday afternoon and the story was updated.
Related Slideshow: Newport’s Wyndham Estate in Photos
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