Priciest Home For Sale In Somerset County Drops $6.5 Million

FAR HILLS, NJ — The refurbished Cragwood Estate overlooking the Somerset Hills and Ravine Lake did not sell at auction at $23 million in October and is now selling for $6.5 million less.

The home did not sell at auction and the seller ultimately elected to withdraw the property from auction. The property remains on the market and is available for offers, Concierge Auctions confirms. (See Related: Refurbished $23M Far Hills Estate To Sell To Highest Bidder)

• Address: 460 Lake Rd, Far Hills, New Jersey
• Price: $16.5 million
• Square Feet: 16,160
• Bedrooms: Nine
• Bathrooms: 10 full and three half
• Built: 1923
• Features: The story of the estate dates from 1899 when it was the original location of the Somerset Hills Country Club. The commanding hilltop site offered an inspiring place for the members to gather with friends. Refashioned as a private estate, and completed in 1923, a grand Georgian-style mansion replaced the original clubhouse, and the grounds were transformed into an English park featuring a walled garden, graceful fountains, and open meadows set among the woods and ravines. Accessory buildings include a pool house, 5-unit staff apt building, offices, and farm buildings. The estate is gated and private.

This listing originally appeared on realtor.com. For more information and photos, click here.