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Perrettis buy 2nd NJ farm

December 12, 2006

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Published reports state William and Anthony Perretti of Perretti Farms have purchased farmland in Somerset County in New Jersey for $3.7 million and have told county officials they intend to use the property for their breeding operation. Reports indicate the Perrettis will relocate mares from their recently-sold farm in Kentucky to their new site.

The two tracts purchased consist of a total of 380 acres of preserved farmland. The county and the city of Hillsborough purchased the land in 1999 for a reported $4.5 million from the owner who was in failing health at the time.

The purchase by the Perrettis came at an auction, which took place at a church. An attorney for the county was quoted as saying the auction drew so much interest that the entire church was filled with people, as was the balcony and parking lot.

The two tracts were actually auctioned off separately at first, with one bought by a local farmer and the other by a farmer from Pennsylvania. Then the two bidders had a chance to bid as a team against anyone who wanted to bid on the entire farm, and they lost out when the Perrettis reached $3.7 million.
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