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Expensive Mansions That No One Wants to Buy

Posted by Bill Rippel on February 18, 2023 - 1:21am


35. Stone-Walled Estate – Alpine, New Jersey

On the Market Since: 2010 
Total Area: 30,000 square feet 
Initial Value: $60 million*

Once you know the fairy-tale-like story of this mansion, it might be surprising to know that not only has it decayed in value, but it has also been on the market for decades. The house hasn’t changed ownership since it was built, and the buyer has taken it on and off the market periodically. 

Having said that, the Stone-Wall Mansion offers tons of amenities. It was originally built for Henry Clay Frick II, a steel magnate who founded what would later become US Steel. The home sits on sixty acres, and the list price has dropped consistently. The developer, Richard Kurtz, blames something far more mundane than ghost stories: the property taxes. Even at its current reduced $32.9 million price, those taxes will take a bite out of anyone’s budget.

Otto Knotzer Thanks for sharing
February 18, 2023 at 2:56pm