Three-story Contemporary Home
With Manhattan Skyline Views

What: Three bedrooms, three full bathrooms in approximately 3,000 square feet, on less than an acre.

Where: Edgewater, N.J., across the Hudson from Manhattan.

Amenities: Two fireplaces, cherry wood floors, central air-conditioning, outdoor shower, snow melting system on all outside steps and decks. Large glass facade and three decks.

Asking Price: $10 million

Opening Bid*: $9.5 million

Listing Agents: Cynthia Scott and Phil Delbos, Prominent Properties, Sotheby's International Realty, 201-768-9300.

Due Diligence: This three-story contemporary home has virtually unobstructed views of Manhattan and the George Washington Bridge from every room. The property sits in Edgewood Colony, a gated, low-rise community on the banks of the Hudson River. RoseLee and Bruce Morrell paid about $400,000 in 1989 for the property, razed a house there and seven years ago commissioned a new one from Manhattan architect Adam Tihany, who had designed an office for the couple's catering businesses on nearby Long Island. The average price of a Manhattan luxury apartment, according to appraiser Miller Samuel, was $1,610 a square foot in the fourth quarter. That compares with the indicated price of $3,333 per square foot for the Edgewater house. Broker Phil Delbos notes the house's "unmatched" views, location and design. Mr. Morrell died about a year after the home was completed. His widow says she plans to buy a smaller home when this one sells.

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