The higher end of the real estate market is witnessing increased activity with innovative marketing techniques applied to attract the potential customer. The Alpine Stone Mansion in N.J. has consistently featured in the Forbes’ annual list of America’s Most Expensive ZIP Codes. Forbes had carried a detailed report about the mansion in 2010. At the time it was one of America’s most expensive homes for sale as it was listed for $68 million. The mansion couldn’t find a buyer despite scaling down the asking price. It is now back on the market with a new marketing team and a revised price of $56 million. Alexander Group has been assigned the job as the exclusive marketers of the luxury property.
Adjacent Parcels Can Also Be Bought With the Mansion
Oren Alexander, the co-founder of the Alexander group is employing a new marketing angle. They have added options to the basic mansion on a six acre lot. It is this option alone which has been priced at $56 million. But now, by paying an additional $12 million you can acquire the adjacent six acre parcel. There is another grand option that brings another 20-acre parcel with the 10,000-square foot historic mansion for an additional cost of $39 million. If you are willing to invest $107 million you can now have two mansions spread across 32 acres. This seems to be a new trend in the luxury real estate market as massive multi-million dollar estates across the US are being offered both as a whole or in separate parcels. In Aspen, for example, the 70 acre Jigsaw Ranch with multiple homes can be acquired as a whole for $47.5 million or can be split into two with price tags of $19.95 million and 433.5 million. Grizzly Creek Ranch in Montana, belonging to the Orfalea family also comes with options of additional parcels. Even in New York City three condo units spread over the entire 14th floor of the building Superior Ink can be purchased together or separately.
Mansion Location, a Preferred Choice for Celebrities
The Henry Clay Frick estate spread over 60 acres was bought by Richard Kurtz of Kamson Corp., a real estate investment company based in Englewood Cliffs, N.J. He had bought the property in 2006 for $58 million sometime before the housing bubble bust. He split and developed the historic estate into separate self contained parcels and even managed to sell some of them before the downturn set in and the buyers vanished. Kurtz had kept the Stone Mansion parcel for personal use but ultimately felt that it was too big for his needs. In the mean time he had added various ultra luxurious amenities to the mansion and he finally put it on the market in 2010. It has a total of 30,000 square feet of living space including 12 bedrooms, 19 bathrooms, a ballroom with wet bar, a coat check closet and a subterranean basketball court equipped with scoreboards and locker rooms. It is a four level structure that took three years to build by a team of 60 workmen. The mansion is considered prime property because of its location as well. Manhattan is just eight miles away but boasts of all the privacy you need. The high profile celebrities would love a place like this.