Why the Country’s Oldest Log Cabin Slashed Millions Off Its Price

When the oldest log cabin in the country, located in Gibbstown, NJ, came on the market in 2017, its asking price was a hefty $2.9 million. Now, it’s just $262,000. Why the drastic price reduction?

“When the owners originally tried to sell it, they had included all of the artifacts and antiques, including farm machines, with the sale of the two homes,” says listing agent Christina Huang, of Weichert, Realtors–East Brunswick. “All of the antiques from different years were included, but we found out that no one wanted to pay that kind of money.”

The Nothnagle Log House was built in 1638, and the Colonial home was added on 100 years later. The log cabin, said to be the country’s oldest, is listed on the National Register of Historic Sites.

The 1.3-acre property also comes with a four-car garage, a machine shop, and a shed.

‘Historic significance’

“We had many people who wanted the property, and it was a very tough situation,” Huang says. “The sellers didn’t want to make money off of the people, who loved to come and visit it.

“It has such historic significance that you can’t put a price tag on it,” she continues. “Not a single nail was used to build the log home, so it was going to take some expertise to maintain it. It was just too big of a project for the average person, so a developer ended up purchasing it. He may do some subdividing of the land, but plans to keep both homes intact.”

Huang says the homeowners were able to sell most of the furnishings and antiques via private sale.

“It would have been nice if they could have kept the antiques that included everything from ancient shoes and hats to alabaster pipes that were smoked,” she said. “It could have been an incredible teahouse or kept as a museum. In Gloucester County, unfortunately, it just didn’t get the attention it deserves. It is sad to not be able to keep it as a museum open to the residents. There is just so much history there, and this is the first time in a century that it has been available for sale.”

Huang says she appreciates the opportunity to be a part of the sale of this incredible piece of history.

“The property has had senators, congressmen, and ambassadors look at it, but sadly no one was able to preserve it,” she says. “I’m totally in love with it. It is just a real story of continuing love. The sellers devoted their lives to preserving it. We are just hopeful the developer will take the property and cherish it as much as the sellers did.”

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