Historic NJ Estate at Auction
Information for Intending Bidders
PROPERTY: Approx. 51,000 square feet
VIEWS: Approx. 200 feet of unobstructed Hudson River / Manhattan skyline views
HOME: 8,551 square feet
TAXES: Approx. $82,000
The property is located on two adjacent lots, both with river views. It is located in the R-2 (one-family) residential zone, which has a minimum lot size of 7,500 square feet. The large square footage of the property creates for the buyer a number of possibilities, including:
In other words, 75 Bluff Road exists as two lots. One lot contains the home, garage, outbuildings and pool. The other lot has beautiful landscaping but is otherwise unbuilt upon. In accordance with existing ordinances, one could - if so inclined - extend the main house into the adjoing lot, or build a second home on the southern lot with a river view, or build a second home plus a third home on the second lot with one home positioned to have a river view and the other home to be positioned nearer to Bluff Road.
Ten different possible Concept Plans are available depicting various ways the property can be built upon and/or sub-divided. Naturally, unless these drawings indicate “as of right” (such as those referred to above), any sub-division would be subject to local approval. To receive these Concept Plans, please contact Guernsey’s.
In the fall of 2015, the neighboring property to 75 Bluff Road was placed on the market. That property is similar in size to Bluff and contains a large contemporary home built within the last decade. That home has the same view of the Hudson River and the Manhattan skyline as has 75 Bluff Road. Also on that property is a second, older home close to the road. When the neighboring property came on the market, it was priced at $18.9 million. Several months later, the listing of this neighboring property changed. The contemporary house with the view was separated from the rest of the property and offered for sale on .4 of an acre, approximatly one third of the size of 75 Bluff Road. The reduced offering listed the property at $13.5 million. A few months after the listing change, the property was removed from the market.
WOOD-PANELED FULL BASEMENT
Terms of Sale
AUCTION: Wednesday, June 8, 2016, 2:00pm
LOCATION: At the Property, 75 Bluff Road, Fort Lee, New Jersey
BIDDING: Bidding will be taking place live at the Property. Absentee Bidding by Telephone should be arranged with Guernsey’s. Those wishing to bid online can do so via www.liveauctioneers.com. Online bidders are still obligated to follow the Bidder Requirements described below.
VIEWING: June 4 - 7 (Saturday - Tuesday), daily 12 noon - 7pm; June 8, 10am until Auction; or by advance appointment with Guernsey’s
BIDDER REQUIREMENTS: Bidder must 1. register by signing and submitting to Guernsey’s the Auction Terms & Conditions (see below) and any required escrow instructions, and 2. wire $50,000.00 (the “Bidder’s Deposit”) into the Escrow Agent’s account per the wiring instructions in the Terms & Conditions for receipt prior to 3:00 p.m. EDT on June 6, 2016.
Once bidding is complete and the Buyer is declared, Buyer will be required immediately to execute the Purchase and Sale Contract, Escrow Instructions and other documents reasonably required by the Escrow Agent, and to initiate a wire transfer to increase the Bidder’s Deposit, if required, to ten percent (10.00%) of the Purchase Price (the “Deposit”), both of which must be received no later than 3:00 p.m. EDT on June10, 2016.
TERMS & CONDITIONS: Terms & Conditions for Intending Bidders will appear shortly on this website, be available from Guernsey’s and available at the Property during the Inspection. Specific information such as the Escrow Agent’s Account (referred to above) will be clearly indicated.
BUYER’S PREMIUM: A Buyer’s Premium equal to 6% (six per cent) will be added to the actual hammer price.
PROMINENT PROPERTIES. Prominent Properties, Sotheby’s International Realty, Teaneck, New Jersey is assisting Guernsey’s in this transaction. As an alternate to contacting Guernsey’s to arrange an advance viewing, please contact Josh Baris at 201-568-5668 or 201-741-4999. Prominent Properties will be assisting with the closing.
STARTING BID: As noted, this property is being sold at auction. It will be offered subject to a minimum starting bid of $3,000,000 (Three million dollars). Interested parties are urged to contact Guernsey’s to arrange for a private, advance viewing or for any questions, please contact Guernsey's directly at 212-794-2280.