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.
For sale
$10,000,000
40 Independence Road, Red Bank, NJ 07701
3beds
15,025sqft
Est.: Get pre-qualified
Single Family Residence
Built in 1930
20.14 Acres Lot
$-- Zestimate®
$666/sqft
$-- HOA
What's special
Gothic archesInterconnecting pebble drivesSmall barn with paddocksIvy-covered stone courtyardsClock towerFive residencesOriginal stone fountains
- 67 days |
- 5,215 |
- 353 |
Zillow last checked:
Listing updated:
Listed by:
Kelly Zaccaro 732-492-8224,
Heritage House Sotheby's International Realty
Source: MoreMLS,MLS#: 22607708
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
- Full bathrooms: 4
Heating
- See Remarks
Cooling
- Multi Units
Features
- Flooring: Wood
Interior area
- Total structure area: 15,025
- Total interior livable area: 15,025 sqft
Property
Parking
- Total spaces: 13
- Parking features: Circular Driveway, Common, Driveway
- Garage spaces: 13
- Has uncovered spaces: Yes
Features
- Stories: 2
- Exterior features: Tennis Court(s)
- Pool features: Community, Fenced, In Ground
- Fencing: Fenced Area
Lot
- Size: 20.14 Acres
- Features: Wetlands, Back to Woods, Cul-De-Sac, Oversized
Details
- Parcel number: 3200882000000008
- Zoning description: Residential, Agricultural
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Mother/Daughter,Carriage House
- Property subtype: Single Family Residence
Materials
- Stucco
- Foundation: Slab
- Roof: Wood
Condition
- Year built: 1930
Community & HOA
Community
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Red Bank
Financial & listing details
- Price per square foot: $666/sqft
- Tax assessed value: $4,023,500
- Annual tax amount: $64,939
- Date on market: 3/24/2026
Estimated market value
Not available
Estimated sales range
Not available
$6,613/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/24/2026 | Listed for sale | $10,000,000$666/sqft |
Source: | ||
| 12/10/2021 | Listing removed | -- |
Source: Zillow Rental Network_1 Report a problem | ||
| 11/17/2021 | Listed for rent | $4,000+11.1% |
Source: Zillow Rental Network_1 #22137030 Report a problem | ||
| 11/13/2019 | Listing removed | $3,600 |
Source: Gloria Nilson & Co. Real Estate #21941985 Report a problem | ||
| 10/16/2019 | Listed for rent | $3,600 |
Source: Gloria Nilson & Co. Real Estate #21941985 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $66,187 +34.4% | $4,023,500 +34.4% |
| 2024 | $49,251 +1.1% | $2,994,000 +6.8% |
| 2023 | $48,723 -1.3% | $2,803,400 +6.9% |
| 2022 | $49,372 -2.7% | $2,622,000 +7.5% |
| 2021 | $50,750 +0.2% | $2,439,900 +1.4% |
| 2020 | $50,656 +100.5% | $2,406,900 +0.4% |
| 2019 | $25,268 | $2,398,500 +2.8% |
| 2018 | $25,268 -49.9% | $2,332,200 +2.6% |
| 2017 | $50,441 0% | $2,272,200 -4% |
| 2016 | $50,459 +2.8% | $2,367,000 +0.2% |
| 2015 | $49,095 +2.3% | $2,362,300 +5.3% |
| 2014 | $47,996 +1.5% | $2,242,800 |
| 2013 | $47,278 | $2,242,800 +115.9% |
| 2003 | -- | $1,038,700 |
| 2002 | -- | $1,038,700 |
| 2001 | -- | $1,038,700 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 07701
Nearby schools
GreatSchools rating
- 7/10Fairview Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 7/10Bayshore Middle SchoolGrades: 6-8Distance: 2.4 mi
- 5/10Middletown - North High SchoolGrades: 9-12Distance: 2.1 mi
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- New Jersey
- Monmouth County
- Red Bank
- 07701
- 40 Independence Road




