Why did the country’s oldest log cabin cut millions from its price?
When the nation’s oldest log cabin, located in Gibbstown, New Jersey, went on the market in 2017, it had a hefty asking price of $2.9 million. Now the amount is only $262,000. Why the huge price reduction?
“When the owners originally tried to sell the two homes, they included all of the antiques and artifacts, including farm machinery, with the sale of the two homes,” the listing agent says. Christina Huang, from Weichert, Realtors – East Brunswick. “All the antiques from different years were included, but we found that no one wanted to pay that kind of money.”
The Nothnagle Log House was built in 1638, and the Colonial House was added 100 years later. The log cabin, said to be the oldest in the country, is listed on the National Register of Historic Sites.
The 1.3-acre property also includes a four-car garage, a machine shop and a shed.
“We had a lot of people wanting the property, and it was very difficult,” Huang says. “The vendors didn’t want to make money off of people who loved coming to visit.
“It has such historical importance that you can’t put a price on it,” she continues. “Not a single nail was used to build the log house, so it took some experience to maintain it. It was too big a project for the average person, so the developer ended up buying it. He may subdivide the land partially, but he plans to keep both houses intact.”
Homeowners have been able to sell most of their furnishings and antiques through private sales, Huang says.
“It would have been nice if they could keep the antiques, which included everything from old shoes and hats to alabaster pipes that were smoked,” she said. “It would have been a wonderful café or kept as a museum. In Gloucester County, unfortunately, it hasn’t gotten the attention it deserves. It’s sad not to be able to keep it as a museum open to residents. There’s a lot of history there, and this is the first time in a century In which it is offered for sale.
Huang says she appreciates the opportunity to be part of the sale of this amazing piece of history.
“Senators, congressmen and ambassadors have been looking at the property, but unfortunately no one has been able to preserve it,” she says. “I absolutely love it. It’s just a true story of enduring love. The sellers dedicated their lives to preserving it. We just hope the developer takes the property and cherishes it as much as the sellers did.”