The New Jersey Luxury Real Estate Blog

New Jersey Claims Two Spots In 2017's Top Priciest Zip Codes In The US

Ranking the priciest zip codes in the US based on closed home sales

It’s December which means it’s time for our annual report on the 100 most expensive zip codes in the United States. We consider our report to be the most accurate benchmark of the country’s most exclusive areas as we are the only publisher who is analyzing closed sales prices and not asking prices. This allows us to avoid presenting inflated prices that are the result of luxury listings lingering longer on the market and which are frequently the subject of hefty price cuts. Conversely, in some highly competitive markets like Silicon Valley and San Francisco where bidding wars are the norm, average asking prices may be lower than what people end up paying to own a coveted piece of real estate.

Sagaponack’s 11962 loses its title as the priciest zip code, slides to 15th spot

After winning the title of most expensive zip code in the US two years in a row, Sagaponack’s 11962 lost to Atherton in 2017. The exclusive Hamptons community dropped all the way to 15th position, mainly due to more sales recorded at lower price points, which slashed its median sale price in half. In 2017, Sagaponack’s median sale price was $2,819,000, while the barrier for entry in the top 10 is $3 million.

Sagaponack was also outranked by two neighboring zip codes – 11976 in Water Mill and 11975 in Wainscott, which broke into the top 10 in 2017, each climbing 7 spots from last year and reshuffling the top 10 as the only new entries.

With Sagaponack out of the picture, the top 3 positions are now claimed by zip codes from three different states: California, New York, and Florida. The nation’s priciest zip codes feature very different housing markets: Atherton’s...

Clarence Manor: 16 Pond View, Montville

16 Pond View Front View Of Home

Welcome to Clarence Manor, designed by renowned WESKetch Architecture and modeled after the Thomas Kinkade painting "Beyond Summer Gate". Awaiting visitors at the end of a long gated drive and circular parking court, this spectacular estate creates a commanding presence and promises no less. Elegantly framed by sprawling lush lawns and specimen plantings on nearly 6 tranquil acres, this 7-bedroom residence beautifully showcases impeccable attention to detail at every turn. Serenity abounds as you lounge by the breathtaking pool with cabana and 60' underground slide, while inside sophisticated systems add to the home's cachet including a Crestron automation system, radiant and hydronic heating and state-of-the-art home theater. A heated six-car garage is de rigueur for the automobile aficionado.

7 Bedrooms, 7 full & 3 half baths, 6 car garage, 4 fireplaces, grand open spaces, soaring ceilings, custom moldings and Brazilian cherry hardwood flooring throughout, dramatic floating staircase, high-tech systems, state-of-the-art theater, whole-house generator, spectacular 5.66 acre property with heated in-ground salt water pool and so much more. Vacationing away from home will be a distant memory.

For more information visit www.16PondView.com or contact Tony Verducci at 973.477.2220.

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Modern Masterpiece: 12 Ferndale Road, Short Hills

12 Ferndale Road Front View Of Home

Leave the ordinary behind and aspire for nothing less than this breathtaking architectural masterpiece. Custom designed by Simonian Rosenbaum Architects, this exclusive 7 bedroom residence on nearly an acre is truly one of a kind in the heart of Old Short Hills just blocks to NJ Transit Hoboken and NYC trains. As you enter the parking court the home creates a commanding presence and does not disappoint. Boasting a truly open concept floor plan with soaring ceilings and walls of windows, it is a home perfectly designed for today's modern lifestyle. Private en-suite baths, ultra-luxurious finishes, spectacular Wine Room in the stunning Gourmet Kitchen, an enviable first-floor Master Suite with nearby Study, Control4 automation and sophisticated multi-zone HVAC systems with sumptuous radiant heat in many rooms.

7 Bedrooms, 7.2 Baths, 3 Car Garage, modern open concept floor plan, soaring ceilings, expansive property, Control4 home automation system and so much more.

For more information visit www.12Ferndale.com or contact Tony Verducci at 973.477.2220.

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South Orange Wins Hot Town Showdown

South Orange Downtown

After four weeks of voting, South Orange is the winner of New Jersey Monthly’s Hot Town Showdown, presented by Kings Food Markets.

From the outset, South Orange blew the doors off the competition, consistently coming in first overall in every round. That trend continued into the Championship Round, when it defeated runner-up New Providence.

A historic village boasting diverse architecture, myriad shops and restaurants, a commuter train and a top-notch performing arts center, South Orange is a magnet for young buyers who want the culture of places like Brooklyn, Jersey City and Hoboken without the cost. The Essex County town is also home to Seton Hall University, one of the oldest diocesan universities in the country. With a lively downtown and affordable homes, South Orange can truly boast of being the hottest town in New Jersey.

The bracket-style competition started with 16 contenders on August 29. New Jersey Monthly picked the 16 towns in the competition based on factors like rising home prices, and time spent on the market when homes are up for sale. We also sought input from real-estate professionals—and we listened to the “buzz” in the marketplace. Each week throughout September, we cut the field in half, based on your votes.

For more information on beautiful South Orange contact Tony Verducci...

Scenic Grandeur: 45 Bailey Hollow Road, Morris Township

45 Bailey Hollow Road View Of Home

Through a private gated entrance, this residence awaits visitors at the end of a long drive and circular parking court, creating a commanding presence and promising no less, elegantly framed by sprawling lush lawns embellished with lush perennials and specimen plantings. Tranquility abounds in this glorious retreat, set on over 5 lush acres with breathtaking winter views backing to the nearly 2000 acre Morristown National Historical Park (Jockey Hollow). This architectural masterpiece is spectacular, offering unparalleled comfort to both its occupants and guests, making vacations a distant memory.

From the two story great room to the breathtaking chef's kitchen to the expansive lower level with home theater and wine cellar to the striking bluestone patio, this remarkable home offers grand spaces yet peace and solitude from today's hectic lifestyle, all just a few blocks from downtown Morristown and NJ Transit trains. Updated systems add to the home's cachet, the enjoyment of which is uninterrupted via a whole house generator.

4 Bedrooms, 5 full and 1 half baths, 3 car garage, 2 fireplaces, grand open spaces, soaring ceilings, custom moldings, high-tech systems, 1800 bottle wine cellar, media room, Crestron music system, whole-house generator, breathtaking property and so much more.

For more information visit www.45BaileyHollow.com or contact Tony Verducci at 973.477.2220....

Classic Elegance: 62 Western Drive, Short Hills

62 Western Drive Front View Of Home

Ideally nestled on 0.68 prime acres in the heart of Old Short Hills, this completely renovated home is absolutely stunning offering the perfect alternative to new construction. With architectural interest at every turn and striking moldings that cannot be replicated, this home creates a commanding presence and offers no less.

With 7 generously sized bedrooms, chef's kitchen with professional appliances, large center island and light-filled breakfast room, circular drive and intimate rear deck, this home is sure to please. The beautifully finished walk-out lower level is a delightful surprise, boasting an exercise room, recreation room, large bonus room for a future media room or wine cellar and an in-law suite with kitchenette, bedroom and bath. Don't settle for ordinary when you can live extraordinarily.

7 Bedrooms, 4 1/2 baths, 2 car garage, 3 fireplaces, grand open spaces, soaring ceilings, custom moldings and hardwood in most spaces, Guest suite with kitchenette, Kohler natural gas generator, spectacular 0.68 acre property with private deck and so much more.

For more information visit www.62WesternDrive.com or contact Tony Verducci at 973.477.2220.

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Sophisticated Grandeur: 20 Adams Avenue, Short Hills

20 Adams Avenue Front Photo

Sophisticated grandeur and understated elegance coincide at this spectacular one-acre estate, perfectly nestled in a park-like setting offering complete privacy and resort-like accommodations on one of the most desirable streets in Short Hills. Showcasing a stunning design by renowned Hiland Hall Turner Architects, this newer construction home abounds with bright light-filled rooms, flexible floor plan, generous proportions, impeccable attention to detail and quality levels so exceptional that nearly every other home pales in comparison.

Wine enthusiasts will appreciate two wine cellars surrounding a fireside tasting room, while the expansive wood paneled library will appeal to the literary connoisseur. Sophisticated systems add to the home's cachet, all uninterrupted via a built-in backup generator.

5 Bedrooms, 4 Full & 3 Half baths, 3 car garage, 5 wood-burning fireplaces, grand open spaces, soaring ceilings, jaw-dropping spiral staircase, custom moldings and hardwood flooring, wood-paneled library, high-tech systems, 2000 bottle wine cellar with tasting room, whole-house generator, spectacular 1.01 acre property and so much more. 

For more information visit www.20AdamsAvenue.com or contact Tony Verducci at 973.477.2220.

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Suburban Oasis: 29 Chestnut Street, Livingston

29 Chestnut Street Backyard Photo

Not until now has a home so special entered the market that every other home feels ordinary in comparison. With unrivaled technology and elegant appointments, this suburban oasis literally has it all. Control4 home automation system for lighting, HVAC, blinds and sound/media for 24 televisions (all included), SunPower 58 kW ultra-high efficiency solar panels, uber-efficient geothermal heating/cooling, gourmet kitchen, state-of-the-art home theater with stunning beverage bar, expansive and dramatic first floor lounge with bar, full-size commercial gym and partially heated circular paver driveway. The expansive rear property rivals an exclusive resort boasting an outdoor kitchen, covered patio with TV and fireplace, free-form pool with waterfall and slide, cabana with kitchen and full bath on over 2 lush acres.

7 Bedrooms, 8 1/2 baths, 3 car garage, 4 fireplaces, grand open spaces, soaring ceilings, custom moldings and cherry hardwood flooring throughout, lounge with bar and seating, high-tech systems, state-of-the-art theater, whole-house generator, spectacular 2.27 acre property with heated in-ground salt water pool, 2 story cabana with kitchen, solar panels, geothermal heating & cooling and so much more. Vacationing away from home will be a distant memory.

For more information visit www.29Chestnut.com or contact Tony Verducci at 973.477.2220.

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Ideally Positioned, Perfectly Priced: 132 Hartshorn Drive, Short Hills

132 Hartshorn Drive, Short Hills

Perfection on prestigious Hartshorn Drive. Situated on 2/3 of an acre in the most desirable section of Hartshorn Drive directly across from the Oakey Tract, privacy abounds in this stunning 7 bedroom, 6 1/2 bath residence to be custom built by a prominent Short Hills builder for one very fortunate buyer. With winter western views, interesting and thoughtful design, designer state-of-the-art kitchen and baths, grand open floor plan, flexible configuration with bedrooms on all levels, full walk-out basement, three covered patios and optional elevator, this home is sure to please. A first floor three-car attached garage and front courtyard add to the home's appeal. Don't settle for a pre-built home when you can customize your dream home every step of the way.

For more information contact Tony Verducci at 973.477.2220.

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Is Your Prospective Home a Good Asset Purchase?

Luxury Backyard Photo

Today, financial advisors believe that homes are either assets or liabilities. Technically, a liability is anything that costs money, and an asset is anything that creates positive cash flow.

From this definition, a home is technically a liability, because it costs you money—even if you’ve paid it off and are living in it debt-free. As long as you’re paying your utilities, insurance fees, etc,. your home is technically a liability that’s costing you money.

So, are we telling you not to buy a home? Absolutely not. Homes can be assets or liabilities—depending on their overall cash flow (or lack thereof).

Your home will require money as long as you live in it, making it an expense and liability. However, if your home eventually puts more money in your pocket than it costs you overall, it’s an asset.

Before you purchase your new home, consider if you will be able to walk away from it net positive. If you’re wondering what indicates a good asset purchase, read on:

Tabula Rasa, Tabula Conferta

If it’s been a few years since your last Latin class—or if you’ve never taken Latin—tabula...