The Boutique Hotel Providence, located in downtown Providence, has been purchased for $10.25 million. The sale was finalized earlier this week, according to property records.
The hotel, situated at 139 Mathewson Street, was acquired by a New York-based investment group. The previous owner, a local real estate developer, had operated the property since its opening in 2005.
Encompassing 80 rooms, the Boutique Hotel Providence is recognized for its historic architecture and proximity to the city’s arts and entertainment district. The property underwent significant renovations prior to its launch nearly two decades ago.
Representatives for the new ownership group stated that they plan to maintain the hotel’s current operations and staff. “We are excited to be part of the Providence community and look forward to building on the hotel’s legacy,” a spokesperson said.
The transaction was brokered by a regional commercial real estate firm. No additional details regarding future plans for the property were disclosed at the time of the sale.
