The Real Deal New York

Celebs aren’t immune to price cuts

Even the stars have to contend with the real estate forces at play in today’s market
By Cathaleen Chen | June 01, 2016 09:00AM
Rosie O'Donnell's Saddle River estate

Rosie O’Donnell’s Saddle River estate

Celebrities have been slashing prices on their Jersey crash pads, with actors, singers, talk show hosts and quarterbacks all in search of deep-pocketed buyers. “The Boss” of New Jersey, Bruce Springsteen, scored with a sale to NBA player Randy Foye. On the redevelopment front, Jon Stewart has won preliminary approval to turn a Colts Neck farm into an animal sanctuary — a place where even Mr. Ed would feel at home. Here’s a look at what bold-faced names have been doing with their N.J. real estate.

Price cuts

Rosie O’Donnell slashed the price of her Saddle River estate to $6.5 million. The English country-style home has been on the market for nearly a year, following the separation of the TV personality from her second wife, Michelle Rounds, in early 2015. The six-bedroom, nine-bathroom home, located at 115 East Allendale Road, was originally listed for a sliver below $7 million last year. Situated on six acres of land, the 5,167-square-foot gated property features a jacuzzi, a grotto waterfall in the pool, a basketball court and a guesthouse. O’Donnell is a longtime resident of Rockland County. She bought this house for just under $6.4 million when she married Rounds in 2014.

Like O’Donnell, fellow TV personality Geraldo Rivera cut the price on his New Jersey estate. The Edgewater property is now listed for $2.8 million, a cool million below the original asking price in May 2015. Located in the Edgewater Colony, a co-operative of homes established in the late 1940s, the waterfront residence was designed by Rivera himself as a bachelor pad, according to his listing agent. The three-bedroom, five-bathroom residence is located at 15 Shore Road. Rivera envisioned its interior as a sailing ship because of its proximity to the Hudson. Since getting married and having a child, the attorney-turned-talk-show host bought a Manhattan condo for $5.6 million.

R&B queen Mary J. Blige recently reduced the price of her Saddle River mansion, cutting its price tag by $1.1 million to $11.9 million. The lavish eight-bedroom, eight-bathroom residence features a library, a screening room, an elevator, a gym, a steam room and sauna, a swimming pool with a pool house and two dining rooms. The master bedroom suite has two bathrooms and an espresso station. Blige bought the 13,000-square-foot home through an LLC for $12.3 million in 2008. Located at 119 East Saddle River Road, the listing was the fourth most expensive in Saddle River as of late April.

Teresa Guidice's Towaco mansion

Teresa Guidice’s Towaco mansion

Foreclosures

Before her swanky Towaco mansion — as shown on “The Real Housewives of New Jersey” —  Teresa Giudice and her husband briefly lived in a modest house in Lincoln Park. But in March, the latter home, at 86 Pine Brook Road, was sold back to its lender for $100 at a foreclosure auction. The property was one of the assets under investigaton in the couple’s 2013 bankruptcy fraud charges, for which both have been imprisoned. According to prosecutors, they rented out the Pine Brook Road residence from 2009 to 2012 and hid $42,968 in rent in their first bankruptcy filing. In 2014, they pleaded guilty to 41 counts of fraud.

Listings

For $18,000 a month, you too could live like Giants quarterback Eli Manning — or at least live in his Hoboken condo. Since last May, the 3,500-square-foot pad has been on the market with a listing price of $5.2 million. Now the luxury unit in the Toll Brothers’ Hudson Tea Building at 1500 Hudson Street is available to rent. With views of the Hudson River and Midtown Manhattan, the three-bedroom, three-bathroom triple-unit apartment also has a playroom and an office. It features a spacious kitchen with limestone countertops and exposed brick and wood ceilings. The star athlete and his wife, Abby, reportedly bought the residence in 2008.

Former TV medical  correspondent Nancy Snyderman recently listed her Princeton house for $2.9 million. Located at 37 Pheasant Hill Road, the five-bedroom estate sits on more than two acres of land. Built in 1963, the Cape Cod-style residence features a renovated chef’s kitchen, a wet bar, three fireplaces and French patio doors that lead to a lush garden. Snyderman previously worked at NBC, where she found herself in the center of a media firestorm in 2014 when she violated a voluntary quarantine for ebola after returning from Liberia. Since quitting her job over a year ago, she has revealed that she will be working as a member of the faculty at a medical school.

Nancy Snyderman's Princeton house

Nancy Snyderman’s Princeton house

Sales

America’s premier Jersey boy Bruce Springsteen sold his house in Rumson to NBA player Randy Foye for $1.7 million earlier this year. The four-acre estate at 40 Bellevue Avenue was not listed on the open market. The 3,686-square-foot house was built in 1904, according to Zillow, and records show that Foye and Springsteen’s trustees signed the contract to transfer ownership in February. The iconic singer owns the nine-acre estate neighboring Foye’s new home, but his primary residence is in Colts Neck. Foye is a Newark native and was drafted to the NBA in 2006. He has played for the Minnesota Timberwolves, the Denver Nuggets and most recently the Oklahoma City Thunder.

Redevelopments

Former “Daily Show” host and now farm animal ally Jon Stewart has received preliminary approval from the Monmouth County Agriculture Development Board to turn a 200-year-old Colts Neck farm into an animal sanctuary for up to 80 animals. His wife, Tracey, is an animal activist and the author of the bestselling book “Do Unto Animals: A Friendly Guide to How Animals Live, and How We Can Make Their Lives Better.” According to their proposal, the Colts Neck Sanctuary would be home to up to six cows, four pigs, 10 sheep, 10 goats, four horses and 50 chickens.