realestate

Philadelphia Suburb Castle Sells for $1.5 Million Starting Bid

Lindenwold Castle in Ambler was once home to asbestos tycoon Richard Mattison.

A
historic mansion in Ambler, once known as Lindenwold Castle and owned by an asbestos magnate, is up for auction with a starting bid of $1.5 million. The property has served various purposes over the years, including as an orphanage and filming location for a 1966 movie. Richard Mattison, a pharmacist and cofounder of Keasbey & Mattison Co., purchased the Victorian mansion in 1888 and renovated it in 1912.

    The building, located at 500 Mattison Ave., spans over 24,000 square feet with three floors, featuring original details such as marble fireplaces and gilded ceilings. "It's hard to put a value on this property due to its uniqueness," said Adam Gillespie of Avison Young, listing the property. "Its potential uses are vast, from office space to apartment conversions or single-family homes."

    Mattison's asbestos business helped develop Ambler in the late 19th century, earning it the nickname "asbestos capital of the world" by World War I. After leasing out the property post-1929 stock market crash, Mattison sold it to the Sisters of the Holy Family of Nazareth in 1936, who operated an orphanage there.

    The estate's film connection includes a scene from The Trouble with Angels, starring Rosalind Russell and Hayley Mills. To address financial difficulties, the sisters sold part of the property for residential development in 1988. Today, the castle is surrounded by villas and carriage homes within the Mattison Estate development, adjacent to a retirement community.

    The seller, Aquinas Realty Partners, invested over $3 million in recent years for improvements, including electrical system upgrades and a fire suppression system. "Now it's just a matter of finish detail," Gillespie said. The auction continues until December 19 at 4 p.m., with Paramount Realty USA handling the sale. As of Monday, no bids had been placed, which is typical, according to Gillespie.

Philadelphia suburb castle sells at auction with starting bid of $1.5 million.