The parsonage was built in 1751 and first occupied by Reverend John Frelinghuysen, who came from Amsterdam to serve three congregations of the Dutch Reform church in the upper Raritan Valley. The second occupant of the Parsonage, the Reverend Jacob Hardenbergh, founded Queens College in 1766 while residing in the house.

While living at the Dutch Parsonage, the Reverend Mr. Jacob Hardenbergh sold 95 acres of land and a small farmhouse to John Wallace, a Philadelphia fabric importer and merchant. Between 1775 and 1776, Wallace purchased an additional 12 acres of land and built an eight-room Georgian style mansion adjoining part of the existing farmhouse. It was the largest house built in New Jersey during the Revolutionary War. Naming his estate “Hope Farm,” Wallace intended the property to be his country seat and place of retirement.