New Jersey estate on 102 acres heads to auction with no minimum bid

A 26-acre estate in Hopewell, New Jersey, is going up for auction on October 15, offering a rare opportunity to bid on a sprawling property without a set minimum price. The highest bidder can call it home, whatever the final price turns out to be.

This countryside estate is not the only property on the block. It is surrounded on three sides by a 102-acre parcel that is also for sale, and bidders can go after either property or both.

“This is a quintessential countryside estate or New England mansion property,” Trayor Lesnock, founder and president of auction host Platinum Luxury Auctions, told Realtor.com. It offers “all of the classic elements of such a property”, Lesnock added.

According to the auction house, the estate brings together “formal architecture, custom craftsmanship, and an exceptional collection of recreational and guest amenities”.

Inside the main house

The main home spans 15,146 square feet and features custom brick construction, a slate roof, copper gutters and downpipes, and a cobblestone front courtyard. Five bluestone patios link the interiors to the grounds. The main house features custom woodwork, 12 gas fireplaces and a grand foyer with a double staircase.

The primary suite comes with a private patio and two bathrooms.

The two-storey foyer also features wainscoting and brass chandeliers, according to the listing. The spacious living areas are finished with custom millwork, crown moulding and wood floors. Double-arched openings lead into the living room, which has a wet bar. French doors open onto the patios.

The dining room features a coffered ceiling and custom built-ins with Waterford light fixtures.

The kitchen and breakfast room feature custom cherry cabinetry, granite worktops, a central island and Sub-Zero, Bosch and Viking appliances. The kitchen is French-inspired and overlooks the grounds.

The mansion is designed with entertainment in mind. A two-storey library with custom mahogany millwork houses a billiard lounge. There is also a cinema, a commercial-grade pub and a wine cellar that can hold 3,000 bottles.

The entertainment options extend to the grounds, which feature a tennis court, a putting green with a sand trap, a large swimming pool and a spring-fed two-acre pond. The main house has a private lift and a dedicated fitness centre.

It also has a three-car garage.

Guests have their own space, too, with a separate three-bedroom guesthouse and a pool house that includes a kitchenette.

Why the seller chose an auction

The estate was previously listed at $7.75 million, according to the auction company.

Lesnock told the outlet that an auction made the most sense given the property's location. He describes Hopewell as a “great market” but also points out that larger, more expensive homes there have taken a long time to sell. An auction, on the other hand, encourages buyers to compete against one another rather than waiting for offers to come in one at a time.

The company has done this before in the area. “Fast-forward to the present day, and the situation is extremely similar.

Though now, Hopewell’s market thins out above approximately $4 million, and we hopefully will be looking for competitive bidding at levels beyond that pricing tier, just as we did in 2019 at Deer Run Farm,” he added.

Meanwhile, the 102-acre parcel was listed for $3 million. Because it surrounds the estate on three sides, it gives the main home considerable space and privacy from neighbours. The land has two possible futures, Lesnock said.

If it remains vacant, it becomes a wide extension of the grounds. If a developer subdivides it, he believes the parcel could accommodate as many as 11 luxury homes, each on a plot of between 6 and 14 acres.

Those new homes nearby would not necessarily hurt the estate's value. In his view, they could even increase it.

“Arguably, such a development wouldn’t encroach upon the private estate in any way, and would in fact lift its value due to proximity to brand-new housing inventory. It will be exciting to see what the ultimate buyer or buyers decide!”The auction is scheduled for Thursday, October 15, 2026, at 6 p.m. ET.