Alpine Mansions: OMG! (Trenton, Princeton, Mendham: home, taxes, estate)

[EEEPNJ]

Originally Posted by Lissaedwin

I wonder if there is something to be said about the mentalities of the owners of such ostentatious homes. Why does someone need 15 bathrooms and 10 bedrooms? Are they trying to buy happiness? I don't think I'd want to live in such excess, it scares me. I came across this piece in Architectural Digest about a couple who fanatically replicated a country house from England and the house is so flamboyant, I do think it indicates a certain sick mentality....

aldiges.com/architects/100/alexa_hampton/hampton_article_022007

I couldn't agree more.

[GoldCoastLI]

Originally Posted by MoorestownResident

Largest private estate in NJ is in Moorestown, ex Commerce Bank CEO Vernon Hill's 'Villa Collina' which is about 45,000 square feet on 40 acres. Local real estate experts say the only sales comps are on the west coast. It is slightly bigger than Bill Gates estate.

As a Moorestown, New Jersey resident it is understandable that you would boast about Villa Collina because you and potentially other residents believe the property’s grandeur exemplifies your town. However, the fact is that you or the so-called local real estate experts are vastly misinformed. Albeit New Jersey’s largest home at 45,000 sq ft home (or 46,000 sq ft as some news reports record), the mansion is not nearly the largest on the East Coast. In fact, the largest private residence in the country excluding Biltmore in Ashville, NC (175,000 sq ft) and Oheka Castle (109,000 sq ft) in Cold Spring Hills, NY which are still privately owned residences but used for alternative purposes (hotels), is on Long Island’s South Fork.

Ira Rennert built his summer home dubbed Fair Field on 63 beachfront acres in the tony Hampton’s village of Sagaponack, New York. The home features 29 bedrooms, 49 bathrooms and it is over a 100,000 sq ft. In fact, it is the East Coast, not the West Coast from the time of the Gilded Ages to this day that maintains the Coast able to boast of largest private residence primarily because of the many estates on Long Island Gold Coast and nowadays the Hamptons.

Now, as far as the value of Villa Collina, understand, even in value it will not be comparable to the homes in the New York City or the Los Angeles metropolitan area. A house value reflects many things including:
1) The Price to Earnings of Residents Ratios
2) Proximity to a Global or Alpha City (i.e. New York and Los Angeles and to a lesser degree Chicago and San Francisco according to Foreign Policy's 2008 Global Cities Index)
3) Types of housing in the area
4) Residents in the area

Residents of Philadelphia do not earn a higher per capita income than residents of the New York, Los Angeles, or Chicago metropolitan area; and Philadelphia is not a global city. Burlington County, New Jersey’s housing is for majority middle-income and therefore so are its residents. There are very far and few members of Forbes List or celebrities in the area. Moreover, Moorestown, New Jersey in particular won a spot on Money’s 2005 Best Places to Live in America. A major factor in this nomination is affordable housing, something that is opposing affluent areas.

So although Villa Collina is larger than North Jersey mansions for the time being, after you remove the valuables of art, furniture, etc.; the shell of the home is surrounded by industrial buildings and small middle-income housing despite a small buffer of trees. To an individual that was not a prior resident as Vernon Hills was of Burlington County, New Jersey; the home has very little value. For an example of this look at Gilded Age mansion of Peter A. B. Widener, Lynnewood Hall in Elkins Park, Pennsylvania. The derelict mansion remains valueless to the affluent of today. However, the Gilded Age Estates along with the newly built mega-mansions in Nassau, Suffolk and Westchester County, New York and Fairfield County, Connecticut all remain international prime real estate with interest from global clientele. Please take a ride through Long Island, Westchester or Fairfield and you would be surprised as to how many houses are larger and more grand than Villa Collina. House with histories including being imported from portions of former European Castles; desigined by world renown architects and landscape architects, to hosting or being owned by the most famous individuals of the ages.

[MoorestownResident]

Just a few points of clarification. One, Moorestown didn't just make the Money list, it make the top of the Money list. As in the #1 spot. Few places in America, and probably nowhere on the East Coast, will you find comparable towns based solely on any #1 ranking. And you will always find Money's best places with high incomes and great school systems regardless of location.

It would appear the NY Times has a slightly different take on the prestige of Moorestown, generally, and Villa Collina, specifically. Of course, the article is 8 years old. As the article points out, Moorestown is home to two other massive estates - at 30,000 and 27,000 square feet.

Here Comes the Neighborhood; In Moorestown, a Town of Gracious and Costly Houses, One Place Stands Out - New York Times

A NJ Monthly points out, Moorestown's prime and commutable location to NYC, DC, and Philly offer it the advantages that many towns do not have.

Wonderful Town - njmonthly.com (njmonthly.com)

And speaking of Manhattan, where do you think Hill concentrated growing his business while living in Moorestown?

Vernon the Barbarian - Philadelphia Magazine - phillymag.com

The bottom line is Villa Collina is the largest private residence in NJ according to many sources. That's quite a statement. I'm not saying it's right or desirable, I'm quoting fact. Other estates in the NYC metro area and along the west coast, or the coast of Maine, etc., might have bigger price tags and more than likely oceanviews with them.

They were also the end of a Golden Era, many have been converted to other uses. To that end, in the Golden Age, some of the largest mansions in the early US history were found in Philadelphia's Main Line. And they suffered a similar fate. Some remain, some have been lost. The fact is, nobody is building 45,000 square foot homes today which is why it is very noteworthy. Yes, there actually is life and prestigious areas outside of LA, NYC, CT and Westchester, NY. I know it's hard to believe.

[stevemorse]

Originally Posted by GoldCoastLI

As a Moorestown, New Jersey resident it is understandable that you would boast about Villa Collina because you and potentially other residents believe the property’s grandeur exemplifies your town. However, the fact is that you or the so-called local real estate experts are vastly misinformed. Albeit New Jersey’s largest home at 45,000 sq ft home (or 46,000 sq ft as some news reports record), the mansion is not nearly the largest on the East Coast. In fact, the largest private residence in the country excluding Biltmore in Ashville, NC (175,000 sq ft) and Oheka Castle (109,000 sq ft) in Cold Spring Hills, NY which are still privately owned residences but used for alternative purposes (hotels), is on Long Island’s South Fork.

Ira Rennert built his summer home dubbed Fair Field on 63 beachfront acres in the tony Hampton’s village of Sagaponack, New York. The home features 29 bedrooms, 49 bathrooms and it is over a 100,000 sq ft. In fact, it is the East Coast, not the West Coast from the time of the Gilded Ages to this day that maintains the Coast able to boast of largest private residence primarily because of the many estates on Long Island Gold Coast and nowadays the Hamptons.

Now, as far as the value of Villa Collina, understand, even in value it will not be comparable to the homes in the New York City or the Los Angeles metropolitan area. A house value reflects many things including:
1) The Price to Earnings of Residents Ratios
2) Proximity to a Global or Alpha City (i.e. New York and Los Angeles and to a lesser degree Chicago and San Francisco according to Foreign Policy's 2008 Global Cities Index)
3) Types of housing in the area
4) Residents in the area

Residents of Philadelphia do not earn a higher per capita income than residents of the New York, Los Angeles, or Chicago metropolitan area; and Philadelphia is not a global city. Burlington County, New Jersey’s housing is for majority middle-income and therefore so are its residents. There are very far and few members of Forbes List or celebrities in the area. Moreover, Moorestown, New Jersey in particular won a spot on Money’s 2005 Best Places to Live in America. A major factor in this nomination is affordable housing, something that is opposing affluent areas.

So although Villa Collina is larger than North Jersey mansions for the time being, after you remove the valuables of art, furniture, etc.; the shell of the home is surrounded by industrial buildings and small middle-income housing despite a small buffer of trees. To an individual that was not a prior resident as Vernon Hills was of Burlington County, New Jersey; the home has very little value. For an example of this look at Gilded Age mansion of Peter A. B. Widener, Lynnewood Hall in Elkins Park, Pennsylvania. The derelict mansion remains valueless to the affluent of today. However, the Gilded Age Estates along with the newly built mega-mansions in Nassau, Suffolk and Westchester County, New York and Fairfield County, Connecticut all remain international prime real estate with interest from global clientele. Please take a ride through Long Island, Westchester or Fairfield and you would be surprised as to how many houses are larger and more grand than Villa Collina. House with histories including being imported from portions of former European Castles; desigined by world renown architects and landscape architects, to hosting or being owned by the most famous individuals of the ages.

Have you ever read the book Winfield, this is all about saving the history and artifacts of the LI gold coast. It was such a great book!!!!! Thanks for a reminder of that book. Also what an informative post! I just also finished two books about the Somerset Hills of NJ with the first book being the old mansions and history. Lot of history there too!!!

[Calico696]

Anyone know if it's true that the houses in Alpine do not have numbers? I heard year's ago from someone that the addresses there just have street names no numbers.

[TigerLily24]

Last I heard, that was still true.

Indeed, Alpine real estate is most impressive and (still) ranks as the most expensive in NJ, second most expensive in the country.

From Forbes, this past October:
The New Most Expensive Zip Codes in America - Luxist

[mike0421]

Originally Posted by Calico696

Anyone know if it's true that the houses in Alpine do not have numbers? I heard year's ago from someone that the addresses there just have street names no numbers.

closter dock road, alpine, nj - Google Maps

This is about as far as I can get in Google Maps to the affluency of Alpine. This is the poor section. Once you cross Closter Dock Road headed north is where the really sick money kicks in. Anyway, this neighborhood seems to have geocoded street addresses.

Addendum to this post: here is the sick money:
Click to Smell The Money

[Newarkbomb]

hah ALPINE! many celebs live there. Its a very beautiful place.

[frankgn87]

Here are some 'shacks' ion NJ lol

Google Image Result for http://www.luxuryportfolio.com/photos/property/full/2510586_Manual_p1.jpg

Originally Posted by mike0421

I remember when I moved to Medford, this home was just being finished. Vernon Hill is a car collector, and I remember hearing that he was having twin car garages flanking either side of the house, and they were to garage 60 of his cars. His initial property tax bill was rumored to be in excess of 100,000 bucks.

[mike0421]

Originally Posted by frankgn87

Here are some 'shacks' ion NJ lol

Google Image Result for http://www.luxuryportfolio.com/photos/property/full/2510586_Manual_p1.jpg

Wow, nothing south of Trenton.