Magnificent Greylock Mansion in Chestnut Hill up for sheriff’s sale (update)

Editor's note: This article was originally published in August 2016 and has been updated with the most recent information.

After sitting abandoned for years and slowly deteriorating, the magnificent Greylock Mansion in Chestnut Hill is facing a sheriff’s sale on October 18, with a starting bid of just $1,500.

The home, located at 209 W. Chestnut Hill Avenue, was originally scheduled for sheriff's sale in September 2016. Then, it was pushed back to November 1, 2016 for $90,000, Chestnut Hill Local reported.

Chestnut Hill Conservancy, which has two easements on the property, notes that this sheriff's sale is different in that it is a tax delinquent sale. The current owner owes $182,135.45 in taxes on the property.

If the mansion successfully sells, all mortgages and liens would be "extinguished," according to the city solicitor Courtney Richardson.

The 8-bedroom, 8-bath classic Chestnut Hill stone mansion was built by steel magnate Henry A. Laughlin in 1908. It’s an enormous 8,000-square-foot property that looks over the Wissahickon Valley and comes with a carriage house. It sits on nearly seven acres, making it one of the largest residences for sale in Philadelphia.

It’s been a rollercoaster ride for the mansion, which first hit the market in 2009 to the tune of $2.35 million. That price tag got the ax a number of times over the years, eventually coming down to $1.2 million in March 2016.

The Chestnut Hill Conservancy has said in the past that it is willing to work with potential buyers regarding the easements, which are described below:

The conservation easement on Greylock preserves open green space, protects the property from land development, and helps to control surface water run-off within the Wissahickon Watershed. The façade easement on Greylock protects the exterior of the main building and the carriage house, both listed as "Significant" buildings within the Chestnut Hill National Register Historic District.

The sheriff's sale is scheduled for October 18 at 9 a.m. at 3801 Market Street.

• Chestnut Hill Greylock mansion is reduced by more than $150K [Curbed Philly]
• Philly’s 16 largest residences for sale, in one graph [Curbed Philly]