Connect with us

Business

PICTURE: Most Expensive Mansion in New Jersey and Who Owns It

Published

on

most-expensive-mansion-new-jersey

A Mahwah house steeped in Gilded Age splendor is the most expensive address in New Jersey.

The Crocker-McMillin mansion, a 58-room, a four-story brick masterpiece that has been compared to the royal residence in Versailles, sold for $26 million in late December, making it the most expensive mansion sold in the Garden State last year.

New Jersey’s historic mansion

According to USA Today, the historic property at 675 Ramapo Valley Road, popularly known as the Darlington estate, has been on the market since 2018, when it was offered for $48 million. It was formerly a seminary and is now listed on the National Register of Historic Places as one of the country’s biggest homes.

The buyer’s agent, Christine Frosini of Sotheby’s International Realty Prominent Properties in Saddle River, and listing agent Sonja Cullaro of Christie’s International Real Estate in Ridgewood, both verified the transaction. They declined to speak, citing an unusual non-disclosure term in the contract.

Who owns the most expensive mansion in NJ?

Ilija Pavlovic, the broker-owner of Christie’s International Real Estate of Northern New Jersey, bought the property in 2008. He paid $8.8 million to developer Darlington Associates for the home.

Pavlovic spent years renovating the mansion from top to bottom and adding contemporary facilities to bring it back to its former splendor. He informed the Wall Street Journal in 2018 that he took great care to preserve the home’s intricate wood carvings and the great hall organ, which is the only known 1906 Aeolian player pipe organ in the United States.

Italian woodcarvers who had worked on Italy’s parliament building, as well as the Ritz-Carlton and Waldorf Astoria hotels, were engaged for the repair. Pavlovic told the Journal that the restoration includes upgrades to the plumbing and mechanical systems throughout, as well as the installation of 476 new windows.

The property sold for just 31 times the median single-family home in Mahwah in 2021, which was valued at $850,000. The mansion and its rich history are widely known in town, said Janine Fraser, a Mahwah resident, and realtor with Coldwell Banker Realty in Allendale. Mahwah appeals to purchasers since it is close to New York City while yet maintaining a forested, natural vibe, according to her.

The house was a result of America’s tremendous industrial riches at the turn of the century. George Crocker was a businessman whose father co-founded the Central Pacific Railroad Company, which assisted in the construction of the United States’ first transcontinental railway.

Read More:

8 Things Young Adults Should Do Now to Be Financially Free of Worry

Nicki Minaj Wealth: Here’s an Insight of Rapper’s Net Worth, $10 Million Mansion!