Start counting those pennies: The enormous Lynnewood Hall estate in Elkins Park is still up for grabs and now asking $1 million less.
The pricechop comes three months after the 33-acre estate re-listed for $17.5 million in June. Perhaps the price tag wasn’t enough to convince anyone to take on the ultimate fixer-upper, thus it’s new price tag of $16,500,000.
We’ve been following the ups and downs of this estate for a long time—Lynnewood Hall originally listed in 2014 for $20 million.
Architect Horace Trumbauer designed the 110-room mansion between 1897 and 1900 for street-car magnate P.A.B. Widener, who needed a new home to house his growing family and art collection. The 55-bedroom Neoclassical mansion sits on 33.83 acres, but has fallen into disrepair over the past few decades.
Most recently, it served as headquarters for the First Korean Church of New York.
Today, the stately mansion is in need of a lot of TLC. Listing agent Frank Johnson, who told Curbed Philly in June that the estate has potential as a hotel or music venue, has estimated that renovations could cost $3 to $7 million.
Will the $1 million price cut finally bring a buyer to the table? Stay tuned.
- 920 Spring Avenue, Elkins Park [Frank Johnson, BHHS Fox & Roach]