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Mansion for Sale at Bargain Price…So Why is No One Buying? - WKBN


No one is buying a historic mansion on Youngstown’s north side even though it’s down nearly $20,000 from its original price.

Harold Penwell of Western Reserve Realty Group is listing the house, built by the Wicks in 1918, and later sold to the Hirshbergs and Hartzells — all prominent Youngstown names.

The 15-room home at 260 Tod Lane facing Crandall Park has been on the market for about a year. It’s for sale at just $76,900, but needs a lot of work.

The women’s and men’s dressing areas are both big enough to be bedrooms themselves.

Penwell pointed out the handcrafted, original marble and woodwork.

The downstairs bath has the original fixtures, the servant’s quarters has original appliances, and the original boiler is in the basement.

Penwell has shown the house to 60 people and even at the bargain price, no one wants it. The buyer would have to take out a loan to both purchase and fix the house, which needs repairs and renovations just to make it livable.

“If the house is going for $80,000 and the house needs $60,000 in repairs, you have to be able to qualify for a $140,000 loan instead of an $80,000 loan, and a lot of people can’t do that,” he said.

Ian Beniston, who runs the Youngstown Neighborhood Development Corporation, is keenly aware of the importance of Youngstown’s north side mansions. All the houses on Fifth Avenue north of Crandall Park are in good shape.

“The historical and cultural significance, and then the fact they’re on a major corridor,” he said. “Even the ones that line Crandall Park or Wick Park, they’re very prominent in their location, they’re highly visible. So preserving them is important to the city.”

He said only a “very small niche” of people could tackle the large project of renovating the Tod Lane mansion.

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