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1819 Delancey Place
Philadelphia, PA 19103
Margaux Genovese Pelegrin with Compass Pennsylvania, LLC, original listing - (267) 435-8015
$5,375,000
Conventional
Property
Bedroom
6
Bathroom
Full: 4, ½: 2
Property Type
Conventional
Square ft
6000 Square Feet
Property Description
The epitome of elegance and grace, 1819 Delancey Place is a tribute to the past with its classic brick exterior and historical details. Recently renovated with custom finishes and state-of-the-art technology, this property is fit for the savviest modern-day Buyers. Built in the late 1800s, this "double-wide" estate is 29 ft wide on a 75 ft lot, allowing for grand rooms and light-filled spaces that span over 6000 SF on five levels of living with a 2-car garage & elevator to all levels. Through the entry vestibule into a handsome foyer is the home's hallmark staircase and entrances to the formal dining room and the living room. Notable features include the 14-foot ceilings, ornate crown molding, and two marble fireplaces (one is gas) in the living room, with recessed Lutron lighting and a built-in sound system, making this a choice space for entertaining. The eat-in kitchen was designed for the serious cook with gourmet appointments such as the oversized soapstone island, Wolf 6 Burner Range with custom hood vent, 60'' Sub-Zero Refrigerator, built-in microwave, dual sinks, and ample custom cabinetry. Two vaulted skylights allow for incredible natural light, and sliding glass doors lead out to the patio - perfect for morning coffee, grilling, and al fresco dining. This first level is complete with a powder room and coat closet. The stairway landing on the 2nd level opens to an exquisite family room overlooking Delancey with a gas-burning fireplace, marble mantle, and custom tiger wood paneling. Just adjacent to the family room is the Primary Suite, which features custom built-ins, an en-suite bathroom with dual vanities, a frosted glass shower, and a water closet. Additionally, the primary suite includes a 200 SF walk-in closet with custom walnut millwork, plus a conveniently located bonus laundry room. The 3rd floor has two bedrooms, two handsome bathrooms, and a home office, with the top level of this home adding two additional bedrooms (one is currently being used as a home gym), a marble bathroom, a cedar closet, and a sizable custom-outfitted storage room. An additional 1000 sf of living space in the lower level offers a media room with a wet bar, refrigerator & built-in 132-bottle wine cooler, plus a very special "Mummers" powder room. This level is complete with a large mud room with a full-size washer & dryer, storage room, coat closet, and access to the 2-car side-by-side garage. Additional features include a Crestron smart home automation system, programmable Lutron lighting throughout, recently upgraded multi-zoned HVAC, new historic certified custom windows, and a new roof. Located in the heart of Rittenhouse Square, this location is on a quiet, tree-lined street, just steps from the best restaurants & retail in Philadelphia and less than two blocks from the famed Rittenhouse Square Park.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Residential-Townhouse
Year Built
1752
MLS Number
--
Location
Address
1819 DELANCEY PLACE
City
PHILADELPHIA
State
PA
Zip Code
19103
County
PHILADELPHIA (SOUTH)
Listing
Name
Phone
Office Name
Office Phone
(267) 435-8015
Agent Name
Margaux Genovese Pelegrin
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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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.