Record Setting Sale Occurs in Bernardsville
Turpin Realtors in Bernardsville, NJ sold the Upton Pyne estate in Bernardsville for $12,880,000.
Upton Pyne was originally a historic 500 acre estate built around 1900 on the Mountain Colony section of Bernardsville. It was built for Percy Pyne, daughter of financier and banker Moses Taylor and was a large and elegant property. Several of the buildings associated with the estate remain but the main home fell into disrepair and was demolished in the early 1980’s. The current Upton Pyne estate is a reinvention of that property built recently.
Initially marketed in the spring of 2012 for a price of $27 million, the price was subsequently reduced and found a buyer. It is the highest price paid for a residential property in the area since 2005 and is the 3rd highest price paid for a residence in the Somerset/Morris/Hunterdon counties ever.
While it did take some drastic price reductions to accomplish a sale, its sale is viewed by some as a good sign for the economy.
(See Turpin’s blog for more information).