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PHILADELPHIA-The Albert M. Greenfield Foundation has placed Sugar Loaf, the 30-acre estate and former home of Greenfield, up for sale. The foundation decided to sell in order to strengthen its focus on providing grants. The name, Sugar Hill, was given to the land by 18th century settlers who thought the unusual land formation resembled a loaf of refined sugar typical of that time.

Jonathan Stavin, VP in the local office of CB Richard Ellis, is marketing the site and tells GlobeSt.com the asking price is $15 million. The property is zoned for single-family residential development.

The estate, located in the Chestnut Hill neighborhood, includes “a half dozen buildings,” Stavin says, “including a main residence, which is about 20,000 sf, and a former lodge containing 33 guest rooms. There is also a pool and tennis court.” The buildings were constructed at various times over the past century, with the lodge being the most recent addition, completed in the 1970s.

The foundation will have a hand in selecting a buyer, Stavin adds, and “will consider the balanced interests of the community, the environment and the furthering of its mission in support of the public good.” Greenfield, a local real estate magnate and philanthropist, created the foundation, which is a public trust that underwrites grants for local-area non-profits, in 1953, 14 years before his death.

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