Controversy Erupts Over Plan To Sell Aging Mackay Lowe Estate In Tenafly
TENAFLY, N.J. (CBSNewYork) -- The owner of an aging estate in Tenafly wants out, but hasn't found a buyer yet.
He has a plan that could make him millions, but as CBS2's Diane Macedo reported, the proposal has caused an uproar.
The Mackay Lowe estate at 53 Knickerbocker Road in Tenafly is considered a community gem, but a new proposal to sell is making it a community controversy.
Under the proposal the roughly 6 acre estate would be subdivided into ten lots for single family homes which the homeowners said would likely sell for more than $2-million each.
The homeowner's attorney said he designed the plan to make the property easier to sell.
"The real estate taxes on the property are $160,000 a year. They had it listed for sale as a single family house. No one was interested," their attorney said.
Some are fighting the proposal saying the home, built in 1922, should be considered a historic landmark.
"As most people know, Penn Station was demolished without too much reaction to it and once that had been razed there was enormous outcry as to how could this happen? And this is what we feel about this landmark architectural residence," Rita Heller said.
"This is a historic home with real significance that was owned and managed by one of the founders of Tenafly," Jeffrey Miller said.
Watkins said if those residents are so committed to maintaining the property they should buy it.
"Write me a check for $7-million and they can have it tomorrow," he said.
While some have said the town should buy it, councilman Paul Stefanowics said it's not that easy.
"It's possible the town can help out on such an effort but not enough to buy the entire property so it would have to be a partnership between private investment groups and the borough," he said, "You would have to come up with the money, not only to buy the property, but to maintain it as well, and that's no small cost."
The planning board will discuss the proposal on June 24.