This one-of-a-kind home, once featured on Zillow’s “10 NJ Homes We Were Most Obsessed With” list, hits the auction block on Friday. Maltz Auctions, Inc. will sell the 54-acre estate, which was previously listed for $3,250,000. An opening bid of $450,000 is suggested. The auction will be conducted on the property located at 5847 Route 9 in Tuckerton, New Jersey.
“The property was purchased in 2010 by Mr. Byung Taek Kim, Chairman of the Taekwondo Association of Greater New York,” said Richard Maltz, President of Maltz Auctions. “Mr. Kim bought the property in order to remodel it into a summer shore retreat–and private family fun park–for his family. There’s even a 1,000,000-gallon pool with a three-story watchtower and footbridge! Motorists through the years have had the opportunity to watch the property evolve. How often do you get to purchase a home with this amount of fantastical history?”
The compound was designed as a family-friendly summertime retreat in an all-inclusive resort style. The main residence is 10,000 square feet and includes a master suite that is 2,600 square feet. A separate caretaker’s house offers two apartments. The sprawling estate also features a greenhouse, lighted tennis court, not one but two stocked ponds, two enclosed paddocks and riding path, a 100-foot dog run, and the aforementioned one million gallon pool complete with a watchtower and footbridge.
The main residence is comprised of 6 bedrooms and 5 bathrooms, and the acreage is dotted with fountains and waterfalls for a fanciful escape from the City enclosed by a 1,000-foot wall along Route 9. When asked why the owner opted for an auction, Mr. Maltz told Jersey Digs, “If maximizing the sale price is not [the seller’s] priority, and they just want to move on, Maltz Auctions provides that opportunity.” A representative of the owner told Mr. Maltz, “they are ready to pull the trigger and move on.”
Registration begins at the property on December 15th at 1 p.m. and the auction will commence at 2 p.m. For more information, visit MaltzAuctions.com.
