How much does a castle cost? In this Philadelphia suburb, $1.5 million is the starting bid.

A property in Ambler once known as Lindenwold Castle and formerly owned by an asbestos magnate is up for auction with bids starting at $1.5 million.

Throughout its history, the castle has served as an orphanage, was featured in a movie, and has been witness to the surrounding development. It was also once the property of Richard Mattison, a pharmacist and cofounder of asbestos manufacturer, Keasbey & Mattison Co., who has also been credited with building much of the early Ambler community.

Mattison bought the Victorian mansion in 1888 and transformed the property in 1912. The building at 500 Mattison Ave. is over 24,000 square feet and has three floors, according to the auction listing. It includes original features such as marble fireplaces and gilded wallpapered ceilings.

“It’s hard to put a value on this property just because it is so unique,” said Adam Gillespie, a principal at Avison Young, who is listing the property. “This can set up well for an office use, an apartment conversion, even just a single-family use, which it was in the past.”

Mattison and his cofounder brought their asbestos business to Ambler in 1881, which helped develop the area. The borough was at a time known as the asbestos capital of the world by the beginning of World War I.

Following the stock market crash in 1929, Mattison leased out the property. He eventually sold it to the Sisters of the Holy Family of Nazareth in 1936, who ran an orphanage there, The Inquirer reported.

The property’s religious connection also extends to the big screen. The estate was featured in The Trouble with Angels, a 1966 movie about a Catholic boarding school.

To help close an operating debt of $130,000, the sisters sold 29 of the property’s 73 acres for residential development in 1988.

The property today is surrounded by villas and carriage homes as part of the Mattison Estate, a residential development that began accepting buyers in 2020. A retirement community also sits adjacent to the castle.

The seller of the castle, Aquinas Realty Partners, invested over $3 million in the historically designated property in recent years for improvements. Upgrades were made to the electrical system, and a fire suppression system was also added, said Gillespie.

“Now it’s just a matter of finish detail,” he said. “There are some rooms that are in great condition with the original wallpaper, very ornate woodwork, and there’s some parts of the building that are in shell condition.”

The auction, which is being held by Paramount Realty USA, started Nov. 16 and closes Dec. 19. The firm, based in New York, was founded in 2009 and works in both residential and commercial real estate.

As of Monday, no bids had been placed yet, which is typical, as potential buyers often wait until the last day of the auction, according to Gillespie.

“It’s not the easiest path to redeveloping this, just because it is so ornate on the inside,” Gillespie said. “But I guarantee you, when it’s done, it’s going to be immaculate.”