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1827 Delancey Place
Philadelphia, PA 19103
$4,750,000
Conventional
Property
Bedroom
4
Bathroom
6
Property Type
Conventional
Square ft
5936
Property Description
Considered by many to be the crown jewel of Delancey Place, 1827 Delancey Place is now being offered for purchase for it's next chapter in the history of Rittenhouse Square. A stunning four bedroom, four full bathroom, two powder rooms, nearly 6000 sq ft. brick townhouse on beautiful tree lined Delancey Place, one of the most prominent blocks in Philadelphia in the Rittenhouse Square neighborhood. Circa 1861 and retaining many original features, the home has been updated to meet today's modern needs. There is a two car garage, extremely rare, elevator access from the basement garage access to the stunning roof deck, allowing for ease of transit between floors. Upon entering the gracious entrance hall, with high ceilings, wainscoting, and a beautiful fireplace, one immediately knows they have arrived at a house of distinction. From the entrance hall there is an arched hallway leading to the wood paneled drawing room with a fireplace and original stained glass-leaded windows. There is also a stunning wet bar with a mini refrigerator/ice maker and wine refrigerator. In addition to the elevator access there is also a powder room. Ascending the graceful staircase to the piano noble you are lead to the dining room with fireplace, original plaster crown moldings, and floor to ceiling windows that open to a Samuel Yellin wrought iron balcony. Hardwood floors through out. High ceilings, an archway hall leads past the powder room and elevator stop to the brand new kitchen. The recently installed chefs kitchen is outfitted with custom cabinetry, Sub-zero, Wolf, and Cove appliances and Wolf appliances, and beautiful quartzite countertops. Stunning lighting ascents illuminate the family room and fireplace. There is also a pantry with a Sub-zero wine refrigerator off of the back kitchen. Ascending the staircase to the third floor you will find two large beautiful bedrooms each with its own unique marble bathroom. The fourth floor has two more bedrooms with private bathrooms. The larger bedroom with vaulted ceiling and sky light is used as the primary suite, with ample closet space with built in storage. On this floor there is also a small kitchenette with mini refrigerator and microwave, which is very convenient not only for setting up morning coffee but also extremely useful for entertaining on the roof deck. The roof deck gives amazing views of the city skyline. There is an extraordinary tranquil waterfall, built in plant boxes with lights and watering system. Slate flooring, natural Ipe wood in the sitting area as well as the dining area. Gas supplied grill, and electrical outlets provide for ease of entertaining. There are many, many more amenities that have to be seen to appreciate. 1827 Delancey Place has been meticulously maintained and is in move-in condition.
Property Information
Lot Size
-- square ft
Property Type
Common Interest
Year Built
1861
MLS Number
PAPH2341928
Location
Address
1827 DELANCEY PLACE
City
PHILADELPHIA
State
PA
Zip Code
19103
County
PHILADELPHIA (SOUTH)
Listing
Provider
Berkshire Hathaway HomeServices Fox & Roach, Real, original listing
Name
Berkshire Hathaway HomeServices Fox & Roach, Real
Phone
Office Name
BHHS Fox & Roach Center City-Society Hill
Office Phone
(215) 627-6005
Agent Name
Brian Stetler

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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.