Modern Living: The Midas Mansion

What costs more than the Krupp diamond or a drawing by Rembrandt? Answer: a lonely homestead tucked away in the sylvan woodlands of New Jersey. Though there is nothing so gauche as a FOR SALE sign on the front lawn of this brand-new, Mediterranean-style villa, the hunt is on for a buyer The price tag: a cool $1,000,000.

At that cost, the lavish mansion, offered by the Smoke Rise Co. of New Jersey, is probably the most expensive new house ever put on sale by a developer in the U.S. Fronted by an electrically heated moat guaranteed not to freeze up in...

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