(We Chinese in America Media Editor Tang Zhao, January 27, 2022) A mansion in Alpine, N.J., recently sold for $27.5 million in what could be a bargain for a buyer after asking for as high as $68 million a decade ago. (Photo taken from Facebook)

The Wall Street Journal reported that a luxury mansion in Alpine, New Jersey recently sold for 27.5 million. Although the selling price is very high, it is close to the cost price and may be an extremely cost-effective transaction for the buyer, because this mansion’s asking price 10 years ago was as high as $68 million.

Prominent Properties Sotheby's International Realty real estate agent Dennis McCormack said the mansion and its estate cover a total of six acres. The mansion itself is made of granite and is about 30,000 square feet. It also has a swimming pool, tennis, and basketball courts. Wait.

The 60-acre land was originally owned by steel tycoon Henry Clay Frick; in 2006, Richard Kurtz, the founder of New Jersey condo manager Kamson Corp., bought it for $58 million. They reserved 6 acres of it as their own and build this mansion.

Kurtz, 81, said when the mansion was nearing completion, the couple realized it was too big for them, which led them to consider selling.

Kurtz, who owns another property in Alpine and lives in Palm Beach, Fla., spends most of his time; Kurtz said he considered moving into the salvage house several times, but ultimately gave up. He also said that it seemed like a stupid thing to own a big house but not live here forever.

Kurtz initially considered an offer of $68 million, but Kurtz said the price was too high and sparked hype.

In 2013, this mansion was listed on the real estate website Realtor.com with a price of $43 million, which was later raised to $49 million, but before the epidemic, the price was lowered to $36 million. The transaction was sold for $27.5 million. and the identity of the buyer was not disclosed.

Kurtz said that the original cost of building this mansion was about $27 million, that is, the final transaction price was almost the cost price. Kurtz himself did not benefit from it, and even lost money, but "it's like a journey, And I got it done."

(Source: Compiled from Online Information)