Rhode Island Home Price Cut: landmark Reading Room gets $1.2m trim; now listed at $9.75m

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 pastBuilt 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....