A historic waterfront property in Narragansett, Rhode Island, is drawing attention after a $1.2 million reduction in its asking price. Known as the Reading Room, the five-bedroom residence combines Victorian-era architecture, expansive views of Narragansett Bay and a history stretching back to the resort town’s Gilded Age social scene. According to Realtor dot com, which reported the price reduction on October 18, 2026, the property is now listed for $9.75 million, down from its original asking price of $10.95 million. Coverage by The Boston Globe and Boston dot com has also highlighted the home’s return to the market after more than five decades, with the property located beside the historic Narragansett Towers.
A historic building with an unusual past
Built in 1880, the Reading Room originally served as a private social club where men gathered to read and smoke cigars. Historical accounts cited by The Boston Globe identify Jerome Bonaparte, a relative of French emperor Napoleon Bonaparte, among its reported patrons.The building did not always occupy its present site. It was moved from Matthewson Street to 41 Ocean Road in 1899 to become part of the Narragansett Pier Casino complex. In that era, the word casino referred to a social and entertainment venue rather than a modern gambling establishment.The property eventually transitioned to residential use in the 1930s and later operated as a guest house. In 1971, real estate professional Lila Delman purchased it, and the residence remained associated with her family for decades. Its current listing marks its first availability in more than 50 years.
Victorian architecture meets waterfront living
The 5,099-square-foot residence occupies approximately 0.69 acres, offering a substantial plot in the heart of Narragansett Pier. Its position near the Narragansett Towers, the seawall and the town beach places it close to the coastline as well as nearby cafes and restaurants.The home’s architectural character remains a central part of its appeal. Features include a tower room, a grand staircase, restored hardwood floors, stained-glass details, custom millwork, high ceilings and period chandeliers. Three fireplaces add to the historic interiors, while bay windows and multiple sunrooms bring natural light into the living spaces.A covered wraparound porch provides an outdoor vantage point over the surrounding landscape, while the tower room offers views of Narragansett Bay and the seawall. The property also includes a detached three-car garage.
Restoration and preservation recognition
The Reading Room underwent a major restoration in 2010, according to its listing details. The work helped preserve the building’s historic character while maintaining its potential for contemporary residential use.The property has received historic preservation recognition from Preserve Rhode Island and the Rhody Awards, according to the listing. Its location alongside the Narragansett Towers also connects it to the history of the former Narragansett Pier Casino, much of which was destroyed by a devastating fire in 1900. The Towers remain the most recognisable surviving part of that complex. The home’s combination of historic architecture and modern amenities includes a whole-house generator, an important practical feature in a coastal region exposed to severe storms.
The new asking price
The property was listed in June 2026 for $10.95 million before its asking price was reduced by $1.2 million in September, according to published listing records. The current price of $9.75 million places it among the more expensive residential offerings in Narragansett.The five-bedroom home offers two full bathrooms and two half-bathrooms, according to real estate listing information. Although its historic character may appeal to buyers seeking a distinctive coastal residence, the property has also previously accommodated office use. With its restoration completed, architectural details preserved and waterfront setting intact, the Reading Room offers prospective buyers an opportunity to own a piece of Narragansett’s late-19th-century history while living close to the town’s beaches and commercial centre.
