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After another price cut, New Jersey’s most expensive home returns to market

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Date of placement 2019-06-12 00:00
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There’s a new No. 1 when it comes to the priciest homes in New Jersey, but it’s coming at about half its former price. A 33,000-square-foot estate in Alpine known as the Stone Mansion was relisted last month for $36 million, NJ.com first re

The Real Deal | New York Real Estate News

After another price cut, New Jersey’s most expensive home returns to market

The Stone Mansion in Alpine has relisted at $36M — nearly 50 percent of what it sought a decade ago

June 11, 2019 04:00PM
Kamson CEO Richard Kurtz and The Stone Mansion in Alpine

Kamson CEO Richard Kurtz and the Stone Mansion in Alpine

There’s a new No. 1 when it comes to the priciest homes in New Jersey, but it’s coming at about half its former price.

A 33,000-square-foot estate in Alpine known as the Stone Mansion was relisted last month for $36 million, NJ.com first reported.

Richard Kurtz, CEO of Englewood Cliffs-based developer Kamson Corporation, owns the property, which he acquired for $58 million in 2006 when he bought the former 63-acre estate of Henry Clay Frick II, grandson of former industrialist Henry Clay Frick.

NJ.com noted that Kurtz then subdivided the former Frick estate into other luxury lots, at least one of which at 10 Frick Drive appears on The Real Deal‘s recent ranking of the highest-priced listings in northern New Jersey. That unfinished Bergen County property, owned by former New Jersey Devils hockey star Ilya Kovalchuk, hit the market in February with a nearly $18 million ask.

The Stone Mansion in Alpine, one of the more affluent areas of the Garden State, first hit the market in 2010 at $68 million. By 2012, its ask was down to $56 million as high-powered Douglas Elliman broker Oren Alexander was brought on to market the massive home, according to a story at the time by Forbes.

A series of subsequent price cuts trimmed the Stone Mansion’s ask to $45 million by mid-2017. Within a year, the home at 1 Frick Drive — previous listings have also put the property’s address at 18 Frick Drive — had its price chopped again, to $39.9 million, before it was removed from the market.

Located eight miles from Manhattan and sitting on nearly 6 acres, the Stone Mansion has 12 bedroom suites, two art galleries, an elevator, a martini parlor, a wine cellar, a saltwater pool, a pool house with a kitchen, an indoor basketball court, a tennis court and a heated driveway, among other amenities.

Dennis and Dolores McCormack of Prominent Properties Sotheby’s International Realty, who are also marketing at least three other Alpine properties listed for a combined $58 million, now have the listing for the Stone Mansion. [NJ.com] — Mario Marroquin

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