A New Jersey mansion known as the ‘White House of Englewood’ is on the market for 75% off — here’s a look inside the Roaring Twenties estate just 5 miles from NYC

The Michelle Pais Group Signature Realty NJ

One of New Jersey’s most expensive homes now is 75% off.

According to recent reporting from the New York Post, the 1920s home — once listed for $39 million — is back on the market with a sticker price of $10 million. The home experienced several price cuts over the past five years, previously lowered to $24 million, $17 million, and $12 million. Located in Englewood, New Jersey, the property is just five miles from Manhattan.

The eight-bedroom, 14-bath home sits on five acres of private property and includes a home theater and gym, along with several spiral staircases. The mansion is the latest on a long list of real-estate price cuts this year, including an empty LA hilltop plot and a Florida vacation home.

Read more: 11 of the most massive real-estate price cuts we’ve seen in the past year, from the 70% discount on Michael Jackson’s ranch to a $350 million price drop on an LA hilltop

Business Insider’s Katie Warren previously reported people aren’t buying mansions in Greenwich, Connecticut, another wealthy ZIP code not far from Manhattan. Additional reporting from Warren shows that millennials, unlike baby boomers, are not interested in owning large homes.

Keep reading for a look at Gloria Crest Estate.

Known as the Gloria Crest Estate, the mansion is located in the East Hill neighborhood in Englewood, New Jersey. The town is in Bergen County, one of the richest areas in the state, and is conveniently only five miles from Manhattan — just across the Hudson River from Washington Heights and a 20-minute drive from Central Park.
Google Maps
The mansion — nicknamed the "White House of Englewood" sits on more than five acres of private property, which includes manicured lawns, orchards, well-groomed gardens, and a small lake.
The Michelle Pais Group Signature Realty NJ
The grounds are marked by an iron gate, which opens to reveal a circular driveway …
Google Maps

See the rest of the story at Business Insider

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SEE ALSO: Vancouver homeowners are rushing to fill their empty mansions to avoid a new tax law — and college kids are snapping them up for dirt cheap

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