Eliza Theiss Just a stone’s throw from pricey New York City, New Jersey’s real estate market is a very different creature. While the Jersey’s property market may not have NYC’s record-breaking prices and high-profile deals, its proximity to NYC presents an attractive opportunity to buyers looking for ample acreage close to Manhattan
From music moguls such P. Diddy to real estate magnates like Jeff Sutton, plenty of buyers with cash to spend own sprawling estates in exclusive Jersey communities like Alpine, Deal, Englewood or Stone Harbor. It is upscale communities like these that ensure New Jersey’s continued presence on PropertyShark’s yearly ranking of the 100 most expensive zip codes in the U.S, with Alpine’s 07620 and Short Hills’ 07078 the state’s top zips.
While the median sale price for the entire state clocked in at $205,000 in 2018, Bergen County, the location of the majority of the most expensive homes ever in New Jersey, posted a median of $435,000. Alpine, the community with the New Jersey’s highest number of priciest residential sales, posted a median of $2,205,500.
When it comes to the top most expensive homes ever sold in New Jersey, the leading deals were closed prior to the housing market crash. In fact, only two homes in our list sold in the last 5 years. By comparison, two-thirds of California’s all-time most expensive homes sold from 2014 onwards. Of course, California’s top deals started at $74 million and went into nine-figure territory. While not equaling the top prices paid for homes in Malibu and Silicon Valley, New Jersey’s all-time priciest residential sales are still impressive, ranging from just over $13 million to just under $30 million, with plenty of billionaires among owners.
Check out our interactive map below to see where New Jersey’s most expensive homes ever sold are located and what sale prices they commanded. You can click on the price bars to highlight a specific home or simply hover your cursor over each bar or home to get a few quick facts.
10
4 Stone Tower Drive, Alpine
Sale price: $13,375,000
Mayrich Construction principal Joseph Scott and wife Nancy bought the 7-bed Colonial in 2013, following the sale of another one New Jersey’s price chart toppers. Built in 2004 according to the designs of James Paragano – who is known for classically inspired architecture – the nearly 23,000-square-foot home comes with acres of landscaped grounds in what is New Jersey’s #1 most expensive zip code.
Made for entertaining, the home comes with a two-lane bowling alley, 12-seat home theater, putting green, tennis court, game room, gourmet kitchen, pool and a 7-car garage. It was previously owned by Dede Sheoris-Lewitt, ex-wife of hedge fund boss Michael Levitt.
9
44 Rio Vista Drive, Alpine
Sale price: $13,900,000
Privately owned through a trust at present, this 11,040-square-foot home was previously owned by Yoram and Yacobina Kody. The couple bought the property in 2000 and lived with their two children at the Rio Vista address as a family until the pair’s 2008 divorce. Afterwards, the former spouses continued to co-own the 2-acre property – along with several other real estate holdings – with Yacobina Kody and the children as residents, until the property’s chart-topping sale in 2015.
20 miles from Lower Manhattan, the sprawling house comes with ample entertaining area, including generous outdoor living space such as al fresco dining, sprawling terraces and a lavish pool. The brick manor also features a guest house and a children’s playground. The final selling price for 44 Rio Vista Drive was nearly half its initial listing price. Per the New Jersey Real Estate Report, when the 22-room mansion first went on the market in 2006, the asking price clocked in at $24.9 million.
8
2 Beringer Road, Deal
Sale price: $14,200,000
Located on the New York/New Jersey Bight waterfront and close to Sandy Hook Bay, this 7,268-square-foot Deal home was previously owned by Barbara and Leonard Littman. Currently privately owned through an LLC, previous owners Barbara and Leonard Littman were known for their vast philanthropy work, such as their enthusiastic support for the New Jersey School of Architecture (NJSOA) where they met in the early ‘90s and which now includes the Barbara and Leonard Littman Library.
The minimalist waterfront home features oversized windows for those perfect ocean views, beach access, and a pool overlooking the water. The 1.5-acre property is just steps from the Elberon bathing Club’s amenities and traded in 2017, following the passing of Barbara Littman.
7
44 Litchfield Way, Alpine
Sale price: $14,900,000
Sold nearly 10 years ago, this Alpine mansion measures just under 11,000 square-feet and remains one of New Jersey’s most expensive residential sales ever. Then again, the 2-acre property is located in Alpine’s 07260 zip code, which ranked as the 33rd most expensive zip code nationally in 2018, with a median sale price of $2.2 million.
The more than 2-acre property has been owned by a New York Yankees pitcher since 2009, when he purchased the 6-bed home from Rob Walker, the former manager of entertainment giant Pharell Williams. The mansion features luxurious amenities like an indoor basketball court, an in-home theatre with concession area, a gourmet kitchen and a beauty salon, as well as an outdoor pool. It also comes with several kid-friendly features, like the custom-made outdoor playground, game room and children’s playroom.
6
150-200 Stabled Way, Mahwah
Sale price: $19,000,000
Located on 46 wooded acres along the Ramapo River, this luxurious English Country estate was purchased in 2009 by Chief Executive of Glenview Capital Larry Robbins and his then-wife Amy L. Robbins, former COO of Glenview Capital, now Amy Towers, a full-time philanthropist. Following the couple’s divorce, the waterfront equestrian estate – known as River Oak Farm – was put on the market. It was the second most expensive homes for sale in New Jersey in 2017. The 9-bed estate’s price may have since been cut from $35 million to $29.5 million, but it’s more than likely it will climb several positions in our ranking when it sells.
Among the 10-bedroom estate’s many amenities are a 20-stall barn, indoor riding arena, riding trails, wine cellar, several sports facilities, private fitness center and home theater, outdoor infinity pool, a collection of fireplaces, and even a traditional English pub. As a bonus, River Oak Farm is just a 30-minute drive to Manhattan – essential for the caliber of buyer who might be interested in the spacious estate.
5
1 Monmouth Drive, Deal
Sale price: $19,698,742
Located on the coveted Deal waterfront, this 6,685-square-foot home was previously owned by New Jersey optometrist Charles Abady and wife Rachelle Abady until 2016, when ownership transferred solely to Rachelle Abady. The latter sold the pricey 6-bed just one year ago, with the new owner purchasing it through an LLC – Eg Neptune LLC.
The new owner took out a 30-year mortgage for $10 million through HSBC Bank USA upon purchasing the property. The 4-bed, 6-bath home features floor-to-ceiling windows for maximum enjoyment of the expansive ocean views, a private tennis court, an outdoor pool and spa with views of the water and ample outdoor entertaining space, as well as a pool house.
4
2 Margo Way, Alpine
Sale price: $20,000,000
Initially listed for $34 million in 2011, former owners Joseph and Nancy Scott had to seriously slash the price of this mega-mansion to unload it. Still, at $20 million, it ranks as one the priciest residential sales in New Jersey – fitting for one of the largest homes in the state. At over 34,000 square feet, the mega-mansion features countless amenities, like an indoor basketball court, a pool atrium with saltwater pool, an oversized outdoor spa, gourmet and catering kitchens, as well as an entertaining room with billiards lounge, wine cellar and custom bar.
The Mayrich Construction principal and his wife sold the 3+ acre estate right before downsizing to a merely 23,000-square-foot estate in the same prestigious zip code, with their new abode the 10th priciest home sale in Jersey history. The buyer was reportedly a Russian investor who purchased the mega-mansion through an LLC, whose address, interestingly enough, is listed as the neighboring 5 Margo Way.
3
91 Ocean Avenue, Deal
Sale price: $22,600,000
Purchased in late 2011 by billionaire real estate mogul Jeff Sutton, the 7-bed estate was a steal, considering its initial listing price of $35 million. The founder of Wharton Properties – and one of the largest retail landlords in New York City – had to renovate the expansive 12,000-square-foot estate, which fell into disrepair after it passed into the estate of Ruth Sampson, according to a report in The Real Deal at the time of the transaction.
The more than 7-acre estate now features an upgraded 7-bed main house with ocean views from each of the bedrooms, floor-to-ceiling windows, ample outdoor living space and 350 feet of private beachfront. Following the sale, an outdoor pool and spa with ocean views were added, as well as a private sandy sunbathing beach and a tennis court.
2
1055 Ocean Avenue, Long Branch
Sale price: $25,150,000
Just a mile from the 3rd most expensive home ever sold in New Jersey and on the same stretch of pricey waterfront, this nearly 4-acre estate has retained its spot among the priciest New Jersey real estate since 2007. The 11,000-square-foot home features panoramic views of the ocean, an outdoor pool and spa also with ocean views, a tennis court, a basketball court, playground, as well as a guest house.
Currently owned through At Last LLC, the property was previously owned by Jack Chehebar, a prominent player in NYC real estate and a founding member of The Jackson Group commercial real estate investment company. According to The Real Deal, Jack and his two brothers owned 18 properties in tiny Deal at one point.
1
47 Rio Vista Drive, Alpine
Sale price: $28,462,720
Reigning as the #1 most expensive home ever sold in New Jersey since 2006, this sprawling estate was previously owned by the late Donald Drapkin and ex-wife Bernice Drapkin. Billionaire philanthropist, longtime dealmaker at Ronal O. Perelman’s McAndrews & Forbes – until a 2012 fallout – and founder of activist hedge fund Casablanca Capital, Drapkin died in 2012 after a skiing accident.
The over 28,000-square-foot estate was purchased for a record-setting $28+ million through Rio Vista Realty LLC, an entity associated with three other New Jersey estates. The more than 4-acre property includes a conservatory, an outdoor pool complete with pool house and ample landscaped grounds with children’s play areas.
Methodology
In order to determine which were the most expensive homes ever sold in New Jersey, we looked at all residential property sales, taking into account condo, co-op, and single- and two-family homes. All package deals were excluded.
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