Highly Endangered – Historic Paschal House

Paschal House Exterior ViewHere’s a great new opportunity that is not presently found in MLS.

Preservation North Carolina is trying to find a buyer for the historic Paschal House.  Listed on the National Register of Historic Places and situated on 3 acres overlooking a park in a very desirable ‘Inside The Beltline’ Raleigh neighborhood, this important modernist house is in danger of being sacrificed to development.

Paschal House Interior PhotoThe Paschal House was designed by James Fitzgibbon, who was a professor at North Carolina State University School of Design, partner of Buckminster Fuller, and part of a group that designed many radical modernist structures in North Carolina in the 1950s and 1960s.

Paschal House Fireplace PhotoThe property is priced at $2,500,000 to $5,750,000.  This wide price window allows flexibility for buyers.  The layout of the property may allow for 2 to 4 lots to be divided off leaving the house on approximately 1.3 acres.  PNC believes this could be done without sacrificing the integrity of the site.

It’s also eligible for a 30% North Carolina rehabilitation tax credit as well as a possible easement deduction and a property tax reduction.

This house is very cool.  Check it out on PNC’s website.

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