The 2,385-square-foot home, set on 1.1 acres, may not look like a luxurious property at first glance, but its rising selling prices tell a different story. The property at 284 Forest Drive South entered the market on December 13th for $1.1 million and signed a contract after a short week.
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The home in Milburn, in the Short Hills community in New Jersey, created a big splash in the market, sparking a bid war before selling for $172 million.
The 2,385-square-foot home, set on 1.1 acres, may not look like a luxurious property at first glance, but its rising selling prices tell a different story.
The property at 284 Forest Drive South entered the market on December 13th for $1.1 million and signed a contract after a short week.
The house was sold at a high price, but it’s not uncommon in the neighborhood. Many homes in the area cost around $1.7 million, according to Sarit Harrell of Keller Williams Realty, who represented the seller.
Harrell confirmed that the property attracted a great deal of interest before it was sold on February 7th due to some of its terms.
“We had 24 offers and 110 shows. There was a lot of traffic,” Harrell told Inman.
“It was a sale of property,” she continued. “The owner was 100 years old and lived in the house for a long time, but it was well maintained.” The house, built in 1948, was for sale under IS conditions.
However, the main location of the home may have been the biggest selling point.
According to Harel, interests differed between developers and local families. “Local families were thinking about opportunities to renovate their homes. Many builders across the state were interested in it as an investment opportunity. It appealed to everyone and I thought it was very exciting. Masu.”
Harel pointed out a new trend. Strict inventory is urging buyers to expand their search. “Many buyers are creative and see things that would otherwise have not worked, and I also meet real estate agents who show my list in Troy Hills, Fortrey and Hoboken.” she said.
Inside, there are four bedrooms, two and a half bathrooms, hardwood floors and new windows. There is a basement for additional storage.
Located near the forest gardens of Cora Hartshorn Arboretum & Bird Sanctuary, this home offers a blend of privacy and tranquility. It also provides easy access to New Jersey’s Transit Midtown Direct Station and Glendale Elementary School.
According to Harrell, local families who purchased the property are planning to rebuild it.
Email Richelle Hammiel
