The new year was initially expected to bring a resolution to the fate of the Blauvelt Mansion's mortgage sale, but fate it seems is as fickle as ever. The two mortgages were scheduled to be sold on Jan. 4 but have now been pushed back two monthsin the fourth postponement.
According to the Bergen County Sheriff's Office Foreclosure Sale Listings, the $3.7 million and $735,000 mortgages have been delayed until March 22 by lien holders First Choice Bank and Valley National Bank.
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.
Following Hurricane Sandy's wrath, Bergen County Sheriff Michael Saudino pushed the sales back to December 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.
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.