.

Blauvelt Mansion's Mortgage Purchased in Uncontested Bid for $100

CareOne purchased the historic mansion's $3.9 million mortgage during an auction on Friday afternoon

The "jewel of Oradell" was officially sold to CareOne on Friday afternoon following an uncontested bid on the Blauvelt Mansion's $3.9 million mortgage in Hackensack.

CareOne and its subsidiary Blauvelt Associates, bought the mortgages of the 116-year-old house with an uncontested bid of $100, according to a report on nj.com.

The auction came after months of postponements beginning with Hurricane Sandy's wrath, Bergen County Sheriff Michael Saudino pushed the sales to December 2013 to allow residents time to recover from the storm. During the delay, the $1.9 million mortgage was increased to approximately $3.7 million following a recent assessment of the 4-acre property.

The two mortgages were scheduled to be sold on Jan. 4 but were pushed back to March 22.

The historic mansion, built in 1896 for Kimball Chase Atwood and later sold to Hiram Blauvelt, was initially scheduled for a mortgage sale in early November 2012 for a $1.9 million mortgage before the inclusion of a smaller  was added.

Owned by the Wells family since 1979, CareOne purchased the property in January 2011. Shortly thereafter, the Wells family moved out of Oradell and that same year the Mansion was named one of the 10 Most Endangered Historic Sites in New Jersey.

In the past, former owner Wells and CareOne had twice been rejected by the borough Zoning Board of Adjustment to construct an assisted living facility on the front lawn. Wells later took CareOne to court after the company reneged on a prior agreement to continue making $15,000 a month in mortgage payments.

At the time the Wells family moved out in spring 2011, the property was carrying a mortgage of roughly $2.5 million and had been placed in foreclosure the prior year.

The Blauvelt Mansion was also the focus of an independent film "Bluefields" which premiered in October 2012.

Follow Patch on Facebook and Twitter or subscribe to our free daily newsletter.

Linda Korzelius March 24, 2013 at 09:26 PM
It's very sad to see yet another historic site lost to the area. Why can't someone who actually cares about preservation of the area history take over these endangered homesteads. All we can do is hope Care One shows some respect.
Tomasina Schwarz March 25, 2013 at 05:35 PM
Sam, it's the story of life! Now let's see if our zoning board bends over backwards to help them develop the property with a ton of variances just like in the case of habitat for humanity. I wrote our legislators and expressed my disappointment of this sale. Our legislators actually celebrated historical preservation at the mansion a little over a year ago!
Cranky Fake March 25, 2013 at 06:54 PM
@tomasina You have previously stated you were opposed to towns stepping in to buy properties. Would you have been opposed to Oradell buying the property? Because now it appears that you are going to have a nursing home across the street from the other one.
Tomasina Schwarz March 25, 2013 at 07:30 PM
Oradell cannot buy a $3.7million property. This is the problem, buying properties is not the answer. Creating policies for open space could have saved the front lawn of the mansion with a state or federal grant, not really sure what was available to the town for open space preservation. The water works jewel is still a diamond in the rough-another example of the challenges of preserving history. The Civil War battlefields are in danger of being developed into condos-this says it all!!! Disney wants to buy them!!!!
Carol Ann Seidel March 30, 2013 at 12:38 AM
I concur, damn sad state of affairs.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something