PRINCETON, N.J., Feb. 18, 2014 /PRNewswire/ -- A custom-built, Colonial-style estate home in Princeton, NJ near Princeton University will be sold at a live auction on March 16th at the Windsor Athletic Club, Madison Hawk, LLC announced today. Completed in 2012, the stately 6,700 square-foot residence was originally listed at $2,500,000 and will be sold subject to a minimum bid of only $1.2 million.
"The builder approached us to develop an accelerated sales solution to market and sell this one-of-a-kind home," said Jeff Hubbard, President of Manhattan-based Madison Hawk, a national real estate firm and industry leader specializing in Structured Accelerated Sales. "We've devised a one-day auction event to achieve that goal. We're confident that the open bid process and compelling value proposition we're establishing will resonate with buyers who will respond to this singular opportunity to purchase an exceptional residence in a prestigious Princeton location at a price point that is determined by the marketplace."
Created by a prominent local home builder, 502 Cherry Valley Road was designed in a classic all-brick colonial style to complement its location in an area as rich in architecture and design as it is in culture and history. Situated on 1.38 wooded acres and adjoining five acres of wooded preserve, the estate features 7 bedrooms, 5 ½ baths, and masterfully-crafted architectural details and appointments. The home's grand interior living spaces also promote family comfort, with a dramatic two-story entry foyer with a circular staircase, ballroom-style great room with a 14' cathedral ceiling and gas fireplace surrounded by six foot circle-top Pella windows, formal living room, gourmet kitchen with Wolf and SubZero appliances and twin butler stations, and a multi-purpose room that can be utilized as an extra bedroom, office or library. Upscale finishes throughout include solid cherry cabinets, granite countertops, solid oak flooring, designer bathroom tile, Pella windows and Baldwin solid brass hardware. A luxurious master bedroom suite features 11' ceilings, a 35-foot long walk-in closet, and lavish master bath with three sinks, large walk-in shower and oversized Jacuzzi tub overlooking the rear yard. A private staircase leads to the finished third floor which boasts a 26-foot long study, office, children's playroom or exercise room.
The property's sought-after Princeton address creates an opportunity to enjoy the Township's cherished suburban ambiance, award-winning schools, renowned university attributes, and world-class entertainment and cultural offerings which all led to a top 10 ranking in New Jersey Monthly Magazine's 2013 Best Place to Live. Commuter convenience is provided via Amtrak (50 minutes to Manhattan) and NJ TRANSIT service to New York and Philadelphia along the Northeast Corridor Line. Major highways such as Routes 206, 27 and 1 and the New Jersey Turnpike are also nearby. Shopping and dining enthusiasts will appreciate Princeton's historic downtown and famed Nassau Street where an exciting mix of national and boutique shops and restaurants and year-round events and town festivities foster a vibrant, downtown setting. There are also a number of nearby recreational options, including public parks, tennis courts and children's programs.
The award-winning Princeton School district -- which includes the highly-regarded Johnson Park School area where the home is located -- services children from kindergarten through high school. A number of prominent public and private schools are located within Princeton, including the nearby Lawrenceville Prep School, Princeton Day, The Hun School, Princeton Academy and Princeton High School.
The live auction will take place at the Windsor Athletic Club, 99 Clarksville Road, Princeton Junction, N.J., 08550. Registration begins at 1 p.m. with the auction commencing at 2 p.m. Interested buyers can view the estate home at pre-auction Open Houses scheduled on February 16th and 23rd and March 2nd, 9th and 15th from 11 a.m. to 2 p.m.
For more information, please call 212-971-9720 or visit www.MadisonHawk.com/Auctions/Princeton.
About Madison Hawk
Madison Hawk is a national real estate firm and industry leader specializing in Structured Accelerated Sales and Capital Market Solutions to complex real estate situations across all asset classes. The Madison Hawk team is among the most experienced in the industry, having designed and executed over $10 billion worth of commercial and residential sales across all asset classes including; apartment buildings, office buildings, industrial buildings, shopping centers, development land, condominium developments, luxury homes and other special purpose properties. www.madisonhawk.com
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