A rare opportunity to renovate or build new on one of the most iconic waterfront locations on the East Coast. Offered for the first time in many generations, the Dragonline property sits alone atop a bluff at the mouth of Narragansett Bay, and boasts 360-degree unobstructed views with the Newport Bridge to the north, Aquidneck Island to the east, and Block Island, Point Judith, and Beavertail to the south and west. Originally the site of an historic 54 room homestead, today there are three distinct buildings awaiting renovation or reconstruction: the three story main studio/loft, the cabin nestled in cedar trees, and the two story accessory workshop. Swim from a secluded cove on the property or walk down to your own boat slip at the Fort Wetherill boatyard. The property is 1.25 acres with an option to lease/purchase the adjoining property. An eight bedroom OWTS (septic) design has been APPROVED allowing for an additional 5 bedrooms on this property while reserving 3 bedrooms for the adjacent property. A Preliminary Determination from CRMC clarifies coastal setbacks, view corridors, and suitability for construction or renovation on the property. The site radiates a natural tranquility and calmness, while also being spacious and perfect for entertaining and family gatherings. Although secluded and private, the location allows for easy access to all that Jamestown and Newport have to offer, as well as easy travel to Providence/Boston. PROPERTY ALSO LISTED AS MLS #1387818.