Rockhill Farm Acquisitions, an entity affiliated with developer J. Brian O’Neill, has acquired the 246-acre Rock Hill Farm in Willistown Township for $25.48 million. Natalie Kostelni plotted the particulars for the Philadelphia Business Journal.
The property, located at 2320 South Valley Road and 185 Grubb Road, was sold by owner Ruth M. Colket. She and her late husband, Tristram C. Colket Jr., held the property’s deed for nearly three decades.
Rockhill Farm Acquisitions used the land to secure a mortgage of $19.1 million from Republic Bank.
The estate was put up for sale in 2020, after Tristram Colket passed away. The property is home to a 14,000-square-foot house and several more structures. It was originally listed for $38 million with Compass.
“We sold it in a matter of months,” said Jack Aezen who had the listing along with Lavinia Smerconish of Compass. “It shows how strong the real estate market is. There was a long period of time to settlement, but it sold quickly.”
The deal closed in December.
Last spring, O’Neill filed a sketch plan with Willstown to subdivide the property into 23 parcels. The sketch is still under review and no formal plan has yet been submitted.
Read more about Rock Hill Farm in the Philadelphia Business Journal.