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4900 Longshore Avenue
Philadelphia, PA 19135
Kristin McFeely with Compass Pennsylvania, LLC, original listing - (267) 435-8015
$1,100,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
9300 Square Feet
Property Description
Picture it: Tacony in the early 1900s. Industrialist Henry Disston, with his Keystone Saw Works, was hard at work creating a neighborhood rich in varied housing stock and green spaces along the Delaware River. The corner of Tulip St and Longshore Ave was the main business section of the neighborhood and architect John Ord’s towering red brick masterpiece, the Tacony Saving Fund Safe Deposit & Title Company was bustling. Designed in a monumental style intended to instill confidence and trust in their customers, the building housed the trust on the first floor, a community library on the second, and a lodge room for Tacony Lodge No. 600 on the third. Presenting the present-day building, now one of Philadelphia’s finest examples of adaptive reuse, offering the most discerning buyer a glorious melding of old and new, industrial and cozy, vintage and modern. Built in 1893, this handsome red brick building boasts prominent, full-story Sullivanesqe arched windows spanning both facades with a modern entrance at the west end. A name plaque above the door harkens the past and the building’s former life. Once inside, find everything you’d expect from such a commanding structure: sun-soaked open spaces, soaring ceilings, columns, steel beams, exposed ductwork and burnished metal. The patinaed hardwood floors, tin ceilings and vault honor the building’s previous lives and history and a freight elevator is a nod to turn-of-the-century industrial design. At ground level, find a gracious floorplan filled with incredible architectural detail, yet uniquely suited to comfortable everyday living. Offering classic simplicity and vintage restorations, this main living floor has defined, cozy spaces while remaining open and loft-like. Here, a piano and music area take center stage against a backdrop of colorful art and plants. A gas fireplace in the corner reading nook anchors a cozy section of the room and provides a reprieve from the chill of crisp winter evenings. The kitchen is practical and functional with painted black flooring, open shelving, and a door to the beautiful side garden. The industrial shelving, paper lantern light fixtures, wide transom windows, and corner fireplace meld seamlessly into the design of the room. A cheerful light-filled bedroom with a gold tin ceiling, an office, and a full bath round out the floor. A full basement with laundry, a workshop, and elevator access add an additional level of workspace below. On the second floor, find a creative’s dream. Statement arched windows line the south wall, flooding the floor with natural light. Formerly the Jack Costello Boxing Club, this space holds a rich history in the neighborhood. A wide-open blank slate with columns and soaring ceilings allow for endless uses: a workshop, painting or ceramics studio, and gym are just a few ideas. A guest suite with a full kitchen and half bath are open to allow light to bounce throughout the space. The third floor is currently home to a full-service recording studio carefully designed around the principles of room acoustics. A state-of-the-art control room and monitoring station, soundproof isolation booth, and a spectacular live room with exposed ductwork and vaulted tongue and groove ceilings create a wow factor. Also included on the floor is a traveling musician’s guest suite complete with a kitchenette, sunny bedroom, an office, and a renovated full bath. Nestled in the Tacony a historic neighborhood along the Delaware River, find a vibrant community with a rich history, industrial heritage, and a strong sense of civic pride. Listed on the National Register of Historic Places in 2016, the Tacony Disston District is distinguished by its large park and trail system and train access to New York and Philadelphia. In a neighborhood rife with historic architecture, this adaptive reuse is an architectural marvel. A truly exceptional property with charm and thoughtful renovations in a soul-filled building.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1893
MLS Number
--
Location
Address
4900 LONGSHORE AVENUE
City
PHILADELPHIA
State
PA
Zip Code
19135
County
PHILADELPHIA (NORTHEAST)
Listing
Name
Phone
(215) 620-8726
Office Name
Office Phone
(267) 435-8015
Agent Name
Kristin McFeely
Agency Phone
(267) 435-8015

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.