- Associated Press - Saturday, August 26, 2017

NEWPORT, R.I. (AP) - A more than century-old Newport estate owned by a well-known CEO and possible Republican candidate for governor is still up for auction after failing to sell.

The Providence Journal reports that bidding on the Wyndham mansion owned by Giovanni Feroce (feh-ROH’-chee) stalled out at $3 million on Friday. Concierge Auctions LLC, of New York, extended the auction until Monday.

A subdivided four-acre lot sold for $1.1 million.

Feroce, the CEO of watch company Benrus and former CEO of jewelry company Alex and Ani, had sought $6.89 million for the property. He purchased the 1890s estate in 2014 for $6.8 million, and put it up for sale in 2015.

The Internal Revenue Service has a $3.2 million lien on the 4-acre property.

Feroce formerly served in the state Senate.


Information from: The Providence Journal, https://www.providencejournal.com

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