Too Rich for South Jersey? NJ Mansion Slashes Record Asking Price

CINNAMINSON — Originally listed in November 2022 for a record asking price of $24.95 million, a 40,000-square-foot South Jersey estate is now 20% cheaper, and re-listed with some modifications to help attract buyers.

The 7-bedroom, 11-bathroom mansion located at 2801 Riverton Road in Cinnaminson, is now selling for $19.75 million, according to Zillow. That’s an estimated monthly cost of $162,444.

This sprawling 7.7-acre luxury, French-styled, single-family estate has it all, and then some.

Under imagination and development for the last five years, this masterpiece is near completion, said Zillow.

“Destined to be one of the most magnificent properties in the Philadelphia metropolitan area, its southern New Jersey setting is ideal for those seeking a world-class home base between New York City and Washington D.C., and quick access to New Jersey beaches and multiple airports that service the globe,” Zillow boasts.

Every technical detail has been meticulously executed, including the automobile elevator which brings cars into a specially designed room with a unique ventilation system.
The home has plenty of space for an indoor sports court including Pickleball.

The mansion comes equipped with multiple elevators to easily navigate the four floors and features six fireplaces.

An impressive list of amenities includes a dining room fit for royalty, a kitchen designed for a chef, a pub/tavern room for the sports enthusiast, a home gym, a sauna, a home theater for private movie viewings, a wine cellar, and a chapel or mediation room to be alone with your thoughts.

When you first enter the home, you’re greeted by a dual floating staircase as well as a gorgeous view out of the French doors to a courtyard with a reflecting pool.

There are seven bedrooms and all the ensuite bedrooms feature huge, spacious walk-in closets, and distinctive lighting.

The master bedroom suite offers a large separate sitting area with a fireplace, spacious dual walk-in closets, and a spa bathroom with a unique tube elevator that delivers you directly to the gym!

Out of the 11 bathrooms, there are 8 full bathrooms and three half bathrooms.

According to the Philadelphia Inquirer, the house was envisioned by owners, Carlton and Orsula Knowlton, who built a successful pharmaceutical technology firm in Moorestown, but were forced to step down in September 2022. They made their company a Wall Street favorite, and tried to keep control as share prices fell and shareholders rebelled, the Inquirer reported. But they agreed to leave after the board cut a deal with the company’s largest shareholder.

The luxurious compound was put on the market two months after the couple stepped down from their position, but no buyers. They then dropped the price in June 2023, took it off the market for a bit to make some changes, and now it’s back on the market.

So, if you truly appreciate a modern masterpiece of workmanship and want to live an extraordinary lifestyle, then this house is for you.