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Monmouth 07701
40 Independence Road
$10,000,000
● House - For Sale

40 Independence Road

Red Bank, NJ 07701
bedrooms
3 Beds
bathrooms
4 Baths
square feet
15,025 Ft²
$54,514
Est. Monthly

About This Property

Step onto this rare 20-acre estate in Middletown, NJ, & the outside world simply disappears. Comprised of a 15-acre parcel & two 2.5-acre lots with Chapel Hill Rd access & saleable separately - one of the smaller lots already improved with a cottage. Five residences, a clock tower, Gothic arches, ivy-covered stone courtyards, Ludowici tile roofs, hand-carved oak doors & interconnecting pebble drives create the unmistakable feeling of a French chateau at a human scale. Granite hitching posts, original stone fountains & a small barn with paddocks serve the property's horses, while wisteria & English ivy tumble over every wall. Beyond the courtyards, meadows & tree lines extend the sense of seclusion. Designed by acclaimed architect Alfred Hopkins, with landscapes by Martha Brookes Hutcheson, one of America's first women landscape architects, the estate was built for the Straus family of Macy's, whose name carries rare Titanic provenance. Offered for the first time since 1949, Tower Hill Farm is one of NJ's last authentic links to the Gilded Age.
Unit Size
15,025 Ft²
Days on Market
223 days
Land Size
20.14 acres
Price per sqft
$666
Property Type
House
Property Taxes
$5,412
HOA Dues
-
Year Built
1930

Listed By

Kelly Zaccaro
Heritage House Sotheby's International Realty

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Last updated: 6 months ago (MOMLS #22607708)

Price History

Date / Event Date Event Price
Mar 23, 2026 Listed by Heritage House Sotheby's International Realty $10,000,000
Listed by Heritage House Sotheby's International Realty

Property Highlights

Air Conditioning
Fireplace
Parking Details
Has Garage
Parking Features: Circular Driveway, Common, Driveway
Garage Spaces: 13
Interior Details
Full Bathrooms: 4
Flooring Type: Wood
Has Fireplace
Exterior Details
Square Footage: 15025
Architectural Style: Historic, Detached, Mother/Daughter, Carriage House
Year Built: 1930
Building Area Total: 15025
Other Structures: Horse Barn, Paddocks
Construction Materials: Stucco
Pool Features: Fenced, In Ground, Common
Pool is Private
Lot Features: Wetlands, Cul-De-Sac, Back to Woods, Fenced Area, Oversized
Lot Size Area: 20.14
Lot Size Units: Acres
Lot Size Acres: 20.14
Lot Size Square Feet: 877298.4
Water Source: Public
Financial Details
Tax Assessed Value: $4,023,500
Tax Annual Amount: $64,939
Utilities Details
Cooling Type: Zoned, Multi Units
Heating Type: See Remarks
Sewer : Septic Tank

Building Info

Overview

    General

  • Year Built: 1930
  • Effective Year Built: 1930
  • Building Count: 1
  • Total Rooms: 10
  • Bedroom Count: 5
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 18
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,038
  • Garage Type: 10
  • Garage Square Area: 3,944
  • Parking Space Count: 14
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 2

    Dimensions

  • Lot Size Square Feet: 217,800
  • Total Building Area: 2,800
  • Gross Building Area: 14,989
  • Building Area: 2,800
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,800
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 4
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000005000
  • Standard Land Use Code: 1008
  • County Land Use Code: 3A

Neighborhood

  • School District Name: Middletown Township School District
  • Census Tract: 800900

Zoning

  • Zoning: R220

Geography

  • Assessors Map Reference: TAX MAP 166
  • District: 32
  • Parcel: 32 00882-0000-00008
  • Block: 882
  • Lot: 8
  • Municipality: MIDDLETOWN TWP
  • Latitude: 40.3794
  • Longitude: -74.0727

    Address

  • Full Address: 40 Independence Rd
  • Address - House Number: 40
  • Address - Street Name: Independence
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Red Bank
  • Carrier Code: C048
  • 4-Digit Zip Code: 6041
  • Zip Code: 07701

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $4,872,309

    Appraisal Valuation

  • Standard Deviation: 0.1364
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 84
  • Final Value: 3,152,051
  • High Value: 3,582,236
  • Low Value: 2,721,867

    Market Valuation

  • Market Total Value: $2,803,400
  • Market Land Value: $1,075,000
  • Market Improvement Value: $1,728,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $2,803,400
  • Assessed Land Value: $1,075,000
  • Assessed Improvements Value: $1,728,400
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Monmouth


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Frequently Asked Questions

When was property at 40 Independence Road built and last sold?
The property at 40 Independence Road was built in 1930 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 40 Independence Road is $9,899,643.
What are some comparable homes to 40 Independence Road?
There are currently no comparable homes to 40 Independence Road.