Mar
21

Why Won’t Anyone Buy the Most Expensive House in New Jersey?

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Hint: It’s the most expensive house in New Jersey.

When real estate developer Richard Kurtz put his 30,000-square-foot, 12-bedroom, 19-bath home on the market for $68 million in 2010, it was the most expensive property in New Jersey. Seven years later, the house, which sits on a little more than six acres in Alpine, a suburb about eight miles from New York City, remains both unsold and at the top of the market. The only change is its price: It will soon be relisted for a mere $48 million.

“I’m not giving it away,” said Kurtz, whose Kamson Corporation develops and manages apartment buildings, said in a phone interview. “There’s a lot of house, with a lot of value, and a very smart buyer will recognize that.” He’s in no rush to sell it, he said. “I could sit with it for another four or five years,” he continued. “But I’d prefer not to.”…

Why Won’t Anyone Buy the Most Expensive House in New Jersey?

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