$2M Riverside Drive buy tops November home sales

The house at 5015 Riverside Drive. (Jonathan Spiers)

A year after buying his own home in the neighborhood, a local auctioneer worked a seven-figure deal a few doors away – this one topping area home sales for November.

Coming in at $2.1 million, the sale of a 3,600-square-foot house at 5015 Riverside Drive appears to have been the highest-priced residential real estate transaction in the Richmond area last month, exceeding the priciest homes listed and sold through the Central Virginia Regional Multiple Listing Service.

The Riverside Drive house did not appear on CVRMLS before it sold Nov. 18. Joyner Fine Properties’ Rob Harris had the listing, representing the seller, listed in property records as Michael Ivie.

Joyner’s Monica Maney represented the buyer, listed as Gloria Hargett, along with Mark Motley, president of auction house and brokerage Motley’s Asset Disposition Group.

Motley last year purchased his own house on Riverside Drive, through connections he made in an accelerated sale coordinated by his Masterpiece by Motleys real estate division. He said he coordinated this latest sale after hearing about the listing from Maney, who works with Harris as part of Joyner’s Jenny Maraghy Team.

A view of the river from Mark Motley’s Riverside Drive home a few doors away. (File photo courtesy Craige Pelouze)

Motley said Hargett had been looking in the neighborhood and asked him to let her know when properties there hit the market.

He said Hargett made an offer upon seeing the property, which overlooks the James River on a bluff beside the Boulevard “Nickel” Bridge.

“It all happened pretty quickly,” Harris said of the transaction. “They came in, took a look at it, it was what they wanted. They came with the price, and that’s where we ended up.”

Harris said the offer matched the listing’s asking price of $2.1 million. That’s about $500,000 above its latest assessment by the city of over $1.65 million. Records show that Ivie purchased the nearly 2-acre property in 2004 for $1.1 million.

Harris said the house’s location and views of the river were the big selling point.

“It sits on probably the most beautiful point on the James River as far as its location, because it juts out there a little bit,” Harris said. “The Carillon is directly across from you on the river; you can see the train bridges to the left. When the leaves are off the trees, you can also possibly see the city skyline.”

Built in 1954, the house totals four bedrooms and 3½ bathrooms. Harris described the design as “California-style” with gabled roof, cherry floors and river views from every room. The property also includes a deck and detached garage.

The sale came in above the top four transactions for November reported by CVRMLS:

  • 228 Cragmont Circle, Carter Oaks, Henrico – $1.75 million. Listing agent: Richard Bower, Joyner; buyer’s agent: Ryan Mabie, ERA Woody Hogg & Associates
  • 8917 Norwick Road, Mooreland Farms, Henrico – $1.53 million. Listing agent: Mahood Fonville, SRMF Real Estate; buyer’s agent: Joseph Lawson, Long & Foster. 
  • 2811 Grove Ave., Museum District, Richmond – $1.2 million. Listing agent: Lacy Williams, Joyner; buyer’s agent: Wayne Chasen, Gumenick Homebuilding LLC.
  • 5402 Matoaka Road, Tuckahoe Terrace, Richmond – $1.2 million. Listing agent: Heather Paoloni, Long & Foster; buyer’s agent: Rebecca Winters, The Steele Group.
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