Tuesday, June 30, 2015

Du Pont heir tries to unload Chesco mansion, 51 acres

Vezelay is up for auction after no one offers $7 million, or $5 million

Du Pont heir tries to unload Chesco mansion, 51 acres

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The spread called "Vezelay", a 9000-sq-ft mansion and 51-acre swath of Chester County's horsey  Newlin Township, a pleaseant short drive from Buck and Doe Run Farm, the Laurels preserve, and the various Dorrance (Campbell Soup), Strawbridge, Richard Hayne (Urban Outfitters), and Ralph Roberts (Comcast) country seats, is listed for sale at auction May 10 by owner Charlotte du Pont Donaldson D'Arcy and Sotheby's Brandywine real estate agency.

The 5BR 5-3/2BA estate failed to find takers last year at just under $7 million (later reduced to under $5 million), even with its outsdoor jacuzzi, horse barn, and reonvations from 2007, right before the bottom fell out of the pricey-estate market. So du Pont Donaldson D'Arcy hired Concierge Auctions of New York to take it off her hands.

Concerige last Spring sold Felicity Farm, the former Wood family (Wawa) and Robbins family (Prices' Corner and Bala Cynwyd shopping centers) spread in nearby Delaware County, for $1.57 million, a fat discount from the original $3.7 million asking price.

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

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