No Reserve Auction For $3.95 Million Dollar Home Next Week

PRINCETON, NJ — A Princeton estate that saw a $3 million price drop is headed to a No Reserve Auction next week. Beginning on Tuesday, May 3, potential buyers will have the opportunity to name their own price for a home at 48 Elm Ridge Road. The home is in Pennington, but is about eight minutes outside Princeton.

It was on the market for $6.95 million, and is currently on the market for $3.95 million. The No Reserve Auction will run from May 3-7, and the home will go to the highest bidder, regardless of what the price is.

The home sits on 31.35 acres of land and is surrounded by protected land. It has six bedrooms, four full bathrooms and two half-bathrooms. Below are the property features, as listed on coniergeauctions.com, which is handling the auction:

• Remarkable blending of an early turn of the century farmhouse with renovations | Additions by noted New York architects Stamberg and Aferiat
• Great room perfect for entertaining | Dramatic, floor-to-ceiling panorama windows | Abundant natural light
• Luxurious details | Vaulted, beam ceilings | Skylights | Cathedral ceilings | Hardwood and tile floors | Marble features | 3 fireplaces | Built-in vacuum | Wood burning stove
• Oil heating | Central cooling | Zoned heating | Forced-air heating
• State-of-the-art, eat-in kitchen | Granite countertops | Center island | Breakfast bar | Separate dining area
• Master bedroom with en suite | His and hers sinks | Oversized steam shower | Deep, jetted tub | Dressing room with sleek cabinets
• Two-story library opening to patio | Office area | Wet/dry bar
• Curved stone patio | Pool | Variety of outdoor space to relax
• Stunning grounds | Grassy meadows | 2 ponds | Trees | Property overlooks Stony Brook | Water views
• 3-car garage | Attached guesthouse
• Multiple charming outbuildings | Turn of the century barn | Teahouse | Separate tenant or caretaker cottage
• 15+ restaurants within a 10-mile radius | 10+ hotels within a 10-mile radius | Multiple nearby parks | Variety of golf courses in the area
• 10 minutes to Princeton University | Close proximity to top preparatory schools in the nation, including The Lawrenceville School, Princeton Day, The Hun School, The Peddie School, The Pennington School, Stuart Country Day School of the Sacred Heart, Chapin School, and Princeton Academy of the Sacred Heart
• Princeton Area location | 1-hour drive to Philadelphia | 1.25-hour drive to NYC | 1 hour drive to the Jersey Shore | 15-minute drive to Trenton Mercer Airport | 1-hour drive to Philadelphia International Airport | 1 hour drive to Newark Liberty International Airport

The home is open for tours from 1 p.m. to 4 p.m. and tours can be set up by appointment. Bidding on the property opens on May 3, and will take place online at conciergeauctions.com.

The attached image was provided. To view more images of the home, click here.