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Wednesday, sep 18
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Real Estate
Entrepreneurs Struggling To Sell $25M New Jersey Mansion Prepare To Auction It Off
A massive South Jersey mansion that had been listed for just under $25 million is weeks away from being auctioned off. The home at 2801 Riverton Road in Moorestown was listed for a reserve price of $10 million with Kevin Steiger of Kurfiss Sotheby's International Realty. The 40,000-square-foot mansion is owned by pharmacological entrepreneurs Calvin and Orsula Knowlton, who had been struggling to find a buyer, Steiger confirms. The mansion epitomizes opulence with multiple elevators, four floors, six fireplaces, a pub or tavern, a home gym and sauna, pu…
Real Estate
Backyard Oasis Sells Bergen County Home Over Initial Asking Price
A Bergen County home with a backyard oasis is yet another example of prime real estate that sold over its initial asking price. The house at 356 N. Farview in Paramus was listed at $1,399,995 but sold in less than a week for $1,570,000, listing agent Taylor Lucyk of Christie's International Real Estate Group said. Tim Kuder Tim Kuder The four-bedroom three-bathroom house sits on one acre of land. A backyard oasis complete with a patio, inground pool and spa with waterfall features were among the selling points. Walk-in closets, an en suite bathroom with…
Business
Rooftop Bar, Amphitheater Among Renovations To 150+ Year North Jersey Hotel
The historic Grand Summit Hotel is getting a facelift. The Summit institution, which has existed since 1868 at 570 Springfield Ave., is undergoing a renovation by Landmark Hospitality with an expected opening in the 2024 season, as "The Albion Summit." The hotel will downsize from 150 rooms to 100, and offer a restaurant, a lounge and a co-op working space after the first phase of renovations are done, which is expected to take eight months. Adam Parnes, a Summit native, is serving as general manager of the Albion Summit. Albion is an alternative name for Great Britain as the hotel hopes t…