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A historic Philadelphia-area estate owned by descendants of the Rockefeller family of oil magnates has sold for $24 million, according to Zillow.
The roughly 200-acre estate, about 20 miles west of the city’s center, was listed for $29.9 million in 2022, said listing agent Lavinia Smerconish of Compass. The property, known as Kirkwood Farm, dates to the late 1700s and includes five historic farmhouses, ranging in size from about 1,750 to 2,900 square feet, she said.
The estate was sold by the descendants of William Rockefeller Jr.—who helped build the Standard Oil Co. with his brother John D. Rockefeller—including his grandson Roy Jackson and his children, property records show. It has been in the family for generations, said Ms. Smerconish, adding that in recent years the land was used by a hunting club and that several of the residences were rented out.
The buyer, who couldn’t be determined, doesn’t plan to develop the property, said Kim Whetzel of Kurfiss Sotheby’s International Realty, who represented the buyer with colleague Ellen Hass. “It’s very gratifying when the sellers and the buyers want to save these properties and retain their magic,” said Ms. Whetzel.
Family Estate
The land has pastures, old-growth trees, hills and a stream. The residences, some of which are fieldstone, were built in the 18th and 19th centuries, said Ms. Smerconish, who added that the land also has two barns.
In Chester County, where the property is located, home prices rose 8.7% in the fourth quarter of 2022, compared with the same period in 2021, according to the Lindy Institute for Urban Innovation at Drexel University in Philadelphia.
Write to Sarah Paynter at Sarah.paynter@wsj.com