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A treasured estate can be hard to give up, especially one with a special history and a family legacy.

The legendary 24-acre Forbes estate that once hosted lavish galas attended by international celebrities and dignitaries is listed for $3.4 million. The 6-bedroom, 7.5-bathroom property, dubbed “Timberfield,” was purchased in 1950 by the late publisher/owner of Forbes magazine, Malcolm S. Forbes. Despite owning properties all over the world, he chose to raise his five children here, including current CEO and editor-in-chief of Forbes Media, Steve Forbes.

According to the Timberfield’s real estate agent, Sylvia Kissel of Turpin Realtors, the home stayed in the family after Malcolm Forbes’ passing in 1990. The estate is currently owned by one of his sons.

Located at 95 Old Dutch Pl, Bedminster, NJ 07921, the breathtaking property is a piece of history in itself. Once a farmhouse, the oldest section of the house dates back to 1760, with additions following in the 1860s, the 1920s and again in 1961, when a bomb shelter was built. The room has since been renovated into a movie theater, Kissel said.

Besides being owner/publisher of Forbes magazine and close friends with Hollywood icon Elizabeth Taylor, Malcolm Forbes was known for his collections, including motorcycles and hot air balloons. It was at this estate that Forbes housed his precious collectibles, utilizing one garage for his motorcycles and a larger garage for his ballooning equipment and vehicles.

Timberfield holds the essence of the American dream. The colonial-style architecture is presented in a pristine white exterior with dark shutters. Brick accents are visibly significant, noted in the chimneys, patio structures and pool surroundings. The only thing missing is a white picket fence, but with acreage as vast as this, it is not quite necessary.

The interior decor is classic, boasting pastel walls of pale green, lemon chiffon, ecru and vanilla with delicate floral patterns integrated throughout. The library is reminiscent of Forbes’ Scottish roots, lined with a blue/green tartan rug and rich mahogany walls. Malcolm’s father, Bertie Charles Forbes, was a Scottish immigrant and founded Forbes magazine in 1917.

“We hope to find a buyer that will be the next family to take care of it,” Kissel said, noting the property was dear to Malcolm Forbes and his family.

The estate also features a tennis court and 3 guest cottages, living up to the image of luxury and success that is often attached to the Forbes name. Ten additional acres are also available for purchase, which would bring the total cost of the estate to $4.25 million.
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