Photo: Michelle Pais/Signature Realty NJ
A New Jersey mansion is finally off the market after eight years and an 88% price reduction.
The property, which was built in 1926 for Stefan Poniatowski, a man who claimed to be Polish royalty, first hit the market in 2013 with a price tag of $39 million, but failed to sell despite a series of massive price cuts — first to $24 million, then $17 million, then $12 million, and finally $9.9 million before the recent sale.
Michelle Pais of Signature Realty NJclosed the elusive deal on the house, known locally as the ‘Gloria Crest’ estate, for only $4.6 million. The main reason for the relatively measly price was the property’s complicated ownership, she told theNew York Post.
Michelle Pais/Signature Realty NJ
“It was corporate-owned and there were multiple decision makers and many hoops to jump through to get an offer voted through to acceptance,” said Pais. “Throughout the listing, we generated multiple offers higher than for what it sold. Unfortunately, at that time, the powers that be were not willing to vote through anything less than the full asking price.”
Pais continued, “The estate is stunning and grandiose, but it’s definitely not for the faint of heart. My favorite thing about it is the history. When you first step in, you feel like your time traveling into a different era.”
The 24,000-square-foot Englewood, NJ, home sits on roughly five acres and boasts eight bedrooms, nine bathrooms, and five half bathrooms. Beyond the front door is a marble foyer and double staircase with gilded moldings and ornate fireplaces throughout.
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The chef’s kitchen — one of four cooking spaces in the home — incorporates a stained-glass ceiling next to its banquet-sized dining room. The main suite also contains three bedrooms along with a marble-filled en suite bathroom, in a Mediterranean-inspired style.
Other spaces in the home include a home theater and gym.
According to thePost, the mansion was rumored to have hosted some big names throughout its history, like actress Gloria Swanson and Joseph Kennedy, father of President John F. Kennedy. The current owner remains anonymous.
source: people.com
