Mansion, once asking $39 million, sells for $4.6 million. Here’s what happened

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The exterior of the Gloria Crest Estate located in Englewood Cliffs, New Jersey.LuxQue Media / Mike AghachiA mansion once hailed as one of the most expensive homes for sale in New Jersey has seen its price drop like a ton of bricks.Back in 2013, the 28-room estate at 83 North Woodland St. in Englewood, New Jersey, known as the Gloria Crest Estate, hit the market with a $39 million price tag. The property's name harkens back to its original owners in the 1920s, but soon after it was built, the extravagant ivory-colored home was dubbed the White House of Englewood.The guilded entry way includes ornate columns, gold trim and a double staircase.LuxQue Media / Mike AghachiIn the eight years following its debut at $39 million, public records show, the almost 100-year-old mansion located in Bergen County saw its jumbo price tag chopped down to size in a series of massive price reductions.In 2014, after a year on the market, the price was reduced to $25 million. The price cuts continu
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