UPPER FREEHOLD — A 400-acre section of the 770-acre Perretti Farms in Upper Freehold Township, the largest standardbred breeding operation in the state, is on the market for $15 million.
Farm owner William J. Perretti has also announced a dispersal of the farm’s equine inventory over a two-year period starting in November.
“A total of 160 broodmares will be dispersed at the Harrisburg Mixed Sale on Nov. 11, while the weanling crop will be sold as yearlings in 2012 at our traditional Lexington Selected and Harrisburg yearling sales venues,” according to the Perretti Farms Internet website. “The 2011 yearling crop will be offered as usual in Lexington starting Oct. 3 and in Harrisburg commencing Nov. 7. All yearlings will be available for inspection at the farm, as has been the Perretti custom for the past 20 years.”
Perretti and his wife will sell their main residence in New Jersey to move to Florida, according to his son, Anthony Perretti, who is the farm’s general manager.
“He is currently 84 years old and in good health, but he is building a new home in Florida to accommodate a simpler, convenient lifestyle,” Anthony Perretti said.
Perretti’s son will continue to manage the remaining 500 acres, most of which are permanently preserved as farmland, at Perretti Farms. He lives across the street from the Route 526 property on 350 acres known as Yearling Farm. He also maintains a residence in Asbury Park.
Perretti Farms has reduced its mare herd to 160. The mares that do not sell in Harrisburg will return to Perretti Farms and remain there with barren mares that did not produce offspring this year. The farm will continue to stand two stallions, Muscles Yankee and Rocknroll Hanover.
Another stallion, Matt’s Scooter, will retire and remain at the farm, according to Anthony Perretti. He said the farm’s other stallions have been moved or will move to New York or Pennsylvania.
“We stood the top stallions,” he said. “We are getting penalized as breeders in New Jersey, but William Perretti is committed to New Jersey.”
Gov. Chris Christie’s decision to keep slot machines and other gaming out of the Meadowlands racetrack in East Rutherford influenced the changes at Perretti Farms, according to Anthony Perretti.
“If we knew we would be getting gaming, there would be a different outcome to this,” he said.
He said if slot machines are added to the Meadowlands within a year or two, Perretti Farms could rebuild its breeding stock. He said local legislators support gaming at the Meadowlands.
The farm property has been listed with Prudential New Jersey Realtors in Millstone Township. The listing describes the property as “stunning rolling farmland, with open fields trimmed with mature trees, speckled with streams, a pond and a lake. [The] renovated and expanded main residence is built for entertaining with two kitchens, a wine room, media area and an enormous great room with breathtaking views of the farm. [There are] three separate guest houses and apartments, three barns totaling 100 stalls, four offices and extra grooms’ quarters. [The] indoor arena [is] to die for [with] an Equicizer, workshop [and] feed house.”