The most expensive house in all of New Jersey is still for sale at $37 million dollars. It is a pristine property in the sense that no one has ever lived in it!  Someone built it and put it on the market and it has been sitting for over 700 days. That had me wondering, what does it take to buy a home of this magnitude?  I dug in and found out.

Alpine, NJ is the most expensive zip code in one of the most expensive states in the country so you have to think someone out there is qualified right? A source close to this property tells me that offers have been made, and offers have been denied.  So if you are not paying 37 million in cash,  what do you need to make to even quality to but it? (most of the buyers for a place like this do not need a mortgage) but for giggles I wanted to figured it out.

So ballpark, the owner is going to pay about $57,000 a month in property taxes and approximately 180K a month ongoing if 20% is put down at about a 3% interest rate.  Keep in mind, great credit is required but not nearly enough.  Also, with something of this high price tag, I'm told the bank would not require 20% but most likely 35% down. The lender needs to not only know what you can pay (annual stable income), they need the buyer to prove "post closing reserves" of at least 2 or 3 years worth of payments which need to be liquid in the bank should their income stream dry up.

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If they are entertaining an offer, after paying about 10 million dollars as a down payment, the buyer will still have to have another 6 million or so liquid in the bank and show enough income to cover 2.5 million dollars a year for the mortgage payment. (side note, in addition to all of this, it costs about 10K a month to maintain the grounds).

Now that we know the numbers, who wants to see inside the most expensive house in the state of New Jersey? Let's look at the 30,000 square foot home and it's 19 bathrooms. Yes, I said nineteen.

Just a little description for you before you scroll through the photos...location is everything and this Alpine home is just 8 miles from the greatest city in the world, New York City. It offers 12 bedrooms, and of course it has an elevator to your own martini parlor (I did not know I needed one of those until now). Or, if you're feeling like some quiet time, venture to the his or hers libraries (you know, in case you and your partner have different taste in books).

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This home also boasts reception rooms, a ballroom, a formal living and dining rooms, north and south art galleries, and a wine tasting room. There are 12 bedroom suites so you can invites guests.

The floors are made of rare woods, stone, marble, and there are 12' high ceilings throughout.  We don't want you to get exhausted touring this beauty so there's an elevator to all the levels. Don't worry, the pool house has a kitchen in case you get snacky while you swim in the 65' saltwater gunite pool.  Need some recreation time?  You'll love your new tennis court. We also don't want your car's wheels to get cold so there is a heated driveway, and for security, there's a gated motor court as well.  Alright, who's buyin'?

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