Newport’s Parascandola Pier Up for Development
September 8, 2010
According to a report on NewportNow.com, one of the last vestiges of Newport’s working waterfront is being opened up for development. Paul A. Leys, broker and co-owner of Gustave White Sotheby’s International Realty, said on Sept. 12 that his agency has been retained to market and lease Parascandola Pier.
Located just off America’s Cup Ave. and Lower Thames Street, the roughly one-acre waterfront parcel has been the longtime home of N. Parascandola & Sons, a generations-old commercial fishing outfit, which has remained largely untouched while boutique hotels, timeshares, and condo developments rose around it.
The property is located between the well-known Newport Yachting Center, which hosts popular events like the Sunset Music Festival, the Newport International Boat Show, and Clam Chowder Cook Off; and Forty One North, a private members-only yacht club, luxury marina, restaurant and hotel.
The site boasts nearly 57,900-square feet, or 1.33 acres, and extensive linear footage of deep-water dock space, with the potential of accommodating dozens of megayachts and other large vessels.