Newspaper article The Record (Bergen County, NJ)

Booth Tract in Alpine Auctioned for $456,000

Newspaper article The Record (Bergen County, NJ)

Booth Tract in Alpine Auctioned for $456,000

Article excerpt

A 5.8-acre property in Alpine owned by the estate of a prominent philanthropist has been auctioned for $456,000 to a borough woman who plans to build a "dream house" on the site.

Jennifer Lin, who has lived in Alpine with her husband and two children in Alpine for 14 years, was the successful bidder. Lin and her husband own a building supply company in Brooklyn. She said the family wanted more property for a pool and a tennis court.

"This was my first auction," Lin said. "It's an experience. We were lucky to get it."

The property was owned by the estate of Lillian Booth, who died in 2007 at age 92. Booth's life included marriage to a wealthy heir, a successful investment career after his death and a plot by a murderous nephew to kill her. Along the way, she gave millions of dollars to many non-profits, including Columbia University, Pascack Valley Hospital and the Actors Fund Home in Englewood, an assisted- living and nursing home now named for her.

The property, on Route 9W near Palisades Interstate Park and the Boy Scouts' Camp Alpine, was auctioned in early December by Max Spann Real Estate and Auction Co. of Annandale. The auction drew five bidders, according to CEO Max Spann Jr. The sale price was $415,000, plus a 10 percent bidder's fee to the auction company.

The property is assessed at about $2.5 million but sold for much less because it is rocky and has wetlands and parts of it cannot be developed. As a result, only one house of about 10,000 square feet can be built there, according to Booth's longtime lawyer, Anthony Rathe of Hackensack. …

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