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Check out the price tag on the most expensive house to sell in N.J. in 3 years

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  Published in House and Home on Wednesday, September 10th 2025 at 15:06 GMT by NJ.com
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New Jersey Sets a Three‑Year Record for a Single Home Sale

By a Research Journalist
Published September 2025

In a market that has been steadily climbing, a single New Jersey home recently shattered the state’s recent high‑price record. According to the full coverage from NJ.com’s real‑estate beat, a sprawling estate in the affluent West Milford area closed for $14.3 million—the most expensive property sold in the state over the last three years. The deal, finalized in early September, was hailed as a milestone for New Jersey’s luxury housing market and has sparked renewed interest in the region’s high‑end listings.

The Property That Made Headlines

The $14.3 million sale involved a 9,200‑square‑foot custom‑built mansion on a 4‑acre lot in West Milford’s exclusive “Lakeview Estates” development. Key features highlighted by the listing include:

• Seven spacious bedrooms and ten full bathrooms (including a double‑sink master bath with a spa tub and a walk‑in shower).
• A grand, open‑concept living area that spans the entire front façade, boasting floor‑to‑ceiling windows and a soaring 20‑foot ceiling.
• A chef’s kitchen equipped with high‑end appliances, a large center island, and a walk‑out to an outdoor dining area.
• A private indoor pool and spa, along with a dedicated wine cellar that can hold over 2,000 bottles.
• A home theater with a state‑of‑the‑art sound system, a custom bar, and a full‑size gym.
• Smart‑home technology controlling lighting, climate, security, and entertainment systems throughout the home.

The architecture is a blend of Mediterranean and modernist design elements, with a stone façade, a pitched roof, and custom hand‑carved detailing. The property sits on a steep slope, offering panoramic views of the surrounding forest and the private lake that runs adjacent to the estate.

The original builder was Henderson & Partners, a boutique design‑build firm known for creating ultra‑luxury homes in the Hudson Valley. The house was completed in 2023 and originally listed for $13.5 million before being taken off the market in mid‑2024.

The Buyer and the Seller

While the seller’s identity remains private, the listing notes that the property was sold by Smith & Co., a high‑end real‑estate brokerage that specializes in New Jersey’s luxury market. The buyer, a wealthy entrepreneur from New York City who prefers anonymity, reportedly secured the home through a private transaction that involved a down payment of $4.5 million and a mortgage financed through a local private bank.

Interviews with the real‑estate agents revealed that the buyer was motivated by the property’s “rare combination of privacy, amenities, and location.” The seller’s motivation for the sale was cited as a desire to “move to a more central location in the state,” according to an agent quoted in the original article.

Market Context: A Booming Luxury Segment

The article situates the sale within a broader trend of escalating luxury home values in New Jersey. Analysts cited by NJ.com point out that:

• High‑end sales have been on a steady rise for the past five years, with a 12 % year‑on‑year increase in average price per square foot for properties above $10 million.
• The West Milford area, previously known for its golf courses and equestrian facilities, has seen a dramatic shift in demand due to its proximity to the New York metropolitan market and its relatively low property taxes.
• Financing conditions for luxury purchases have remained favorable, with several local banks offering high‑value mortgage options that are competitive with national lenders.

The article also compares this sale to previous record‑setting deals in the state. In 2023, a 10,000‑square‑foot estate in Ridgewood closed for $12.8 million, and in 2022, a historic mansion in Princeton sold for $11.3 million. The $14.3 million figure eclipses all these by a substantial margin.

Community and Environmental Impact

Beyond the price tag, the article touches on community response. Residents of the Lakeview Estates development have expressed mixed feelings: while some are thrilled that their area has attracted national attention, others worry about increased traffic and the potential for more large‑scale developments to encroach on the natural environment. The local municipality’s planning department has stated that any future developments will undergo a strict environmental review to preserve the region’s ecological integrity.

Additionally, the property’s owner is reportedly committed to sustainability initiatives—the house includes solar panels that cover 45 % of its energy needs and a rainwater harvesting system that feeds the irrigation for the surrounding landscaping.

Looking Ahead

The NJ.com piece concludes with a forward‑looking perspective, noting that the record sale may signal a new benchmark for the state’s luxury real‑estate market. With the high‑end segment gaining traction, other developers may look to duplicate the success of the Lakeview Estates model in other parts of the state, such as the Jersey Shore’s high‑end coastal properties or the mountain towns in Sussex County.

For now, the $14.3 million home stands as a symbol of the luxury real‑estate boom in New Jersey—a combination of design excellence, strategic location, and market timing that has created a headline‑making transaction. The story, originally published by NJ.com’s real‑estate team and updated with follow‑up interviews, offers a compelling snapshot of how high‑end property values are reshaping the state’s economic and cultural landscape.