RUMSON: JUST ANOTHER TEARDOWN?

8 navesink ave 0901148 navesinkA riverfront mansion in Rumson may put a new spin on the concept of real estate teardowns. The 12,000-square-foot house at 8 Navesink Avenue, with eight bedrooms and 12 bathrooms, was razed recently. The property was the subject of a live auction in July, 2013, when it failed to attract a single offer at the minimum bid of $2.6 million. Four months later, however, it sold for $5.6 million to Dennis and Marshall Lynch, according to Monmouth County records. The Lynches won planning board approval in April to build a new residence on the 1.9-acre site. (Photo above by Michael McMahon. Click to enlarge)

 

RUMSON MANSION AUCTION A BUST

A jazz duet played on, even after bidders left the auction, which lasted just four minutes. Below, an aerial view from the auction website. (Click to enlarge)

By JOHN T. WARD

They can’t give this baby away, it seems.

A mansion on the Navesink River in Rumson that was once listed for sale at $10.5 million drew a high bid of just $2.6 million at auction Wednesday afternoon, prompting the seller to reject the offer and leaving real estate professionals dumbfounded.

“I don’t know if you could buy the land for that,” the auctioneer told the small cluster of potential bidders who’d gathered under a white tent for the event.

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