From the NY Post:
This northern New Jersey mansion dates to the roaring ’20s, but it’s certainly not roaring now.
The grand property — once one of the state’s most expensive properties — is back on the market asking just $9.99 million. That’s $29 million off its original $39 million asking price in 2013 — a reduction of almost 75%.
Located on 5-plus acres at 83 N. Woodland St. in Englewood, NJ, an affluent suburb of New York City, this 24,000-square-foot spread has struggled to find a buyer.
Not only has the home – called Gloria Crest and, in times past, the “White House of Englewood” – been discounted some five times (other prices over the years have included $24 million, $17 million and $12 million), it’s also been pulled from the market at least three times, Zillow shows.
In 2017, Gloria Crest nearly headed to a foreclosure auction over an unpaid $5 million mortgage. Owner Edward Turen — CEO of Control Equity Group, which through subsidiaries provides facility management and security services to commercial entities around the world — took out mortgages on the home for more than it was worth, The Post reported at the time.
Turen purchased Gloria Crest for $4.8 million in 2000, but its history dates back almost a century. It was built in 1926 for Stefan Poniatowski, a man who claimed to be a Polish count and an heir to the Eastern European country’s throne. Poniatowski was also a silk manufacturer, but he went bankrupt in the 1929 stock market crash. So he sold the mansion and its furnishings and moved to Manhattan, according to the Bergen Record.