They paid $2.5 million in cash to renovate a historical Society Hill church | How I Bought This House
Carrita Thomas and Jake Stein couldn't find what they were looking for on the market, so they decided to renovate a familiar neighborhood building.
The buyers: Carrita Thomas, 33, nonprofit program evaluator; Jake Stein, 42, CEO of a tech startup
The house: A 6,775-square-foot church in Society Hill built in 1920
The price: Listed for $2.5 million, purchased for $2.5 million
The agent: Kate McCann, Elfant Wissahickon Realtors
The ask: Carrita Thomas and Jake Stein moved to Society Hill in 2021 and immediately fell in love. They grew even more attached after having their first child. They loved the abundance of playgrounds and parking. But most of all, they appreciated how the area functioned as a village. “We have a great community of friends,” Thomas said. “We are very close with our neighbors.”
But when they found out that Thomas was pregnant with twins, their rowhouse, which once felt generous, suddenly seemed cramped. They needed more space fast but didn’t want to leave the neighborhood. They also wanted on-site parking and outdoor space for Thomas to garden. Plus they needed at least six bedrooms. The couple knew they were in for a difficult search.
The search: The market moved fast for houses that met their criteria. More than once, they scheduled showings for houses already under contract. Once, they scheduled a showing three days after a house came on the market, only to have the agent cancel because it had already sold. After several misses, they decided to reassess their options, including renovation. “We had not been interested in it before because we’d only heard negative stories,” Thomas said.
Around the same time, Stein noticed a sale sign on a vacant church two blocks from their home. It had been unused for decades, its landscaping overgrown, its windows dark. “I always thought it was so cool and interesting,” Stein said. “And what a waste.”
That discovery shifted their search. Instead of continuing to hunt for the impossible-to-find, perfect rowhouse, the couple began to consider the most glaring fixer-upper in the neighborhood.
The appeal: Thomas was initially skeptical. Every church conversion she had seen leaned toward a loft-style layout, and she didn’t want to live in an open, cavernous space. But walking through the property with an architect helped her picture more private floor plans.
Inside, the building was structurally sound and full of “high-quality raw material,” said Thomas. But what really sold them was the “insane amount of outdoor space.”
To get a sense of renovation costs and trade-offs, the couple also consulted with someone who had previously run a design-build construction company. That process replaced vague anxiety about expenses with concrete ranges.“There are really expensive versions of renovations,” Stein said, “and there are much more reasonable versions.”
Understanding that they could “choose their own adventure” and “dial up or dial down the budget based on their design decisions” made the renovation seem actually doable, if not meaningful.
Thomas appreciated that the church had once been a place where people gathered. “One of our primary values is community,” she said. And the idea of restoring that function — even in a different form — felt really special to the couple. “It just adds so much richness to our lives,” she said.
The deal: Thomas and Stein knew that the terms would be largely out of their control. The seller, who lived out of state, had owned the building for decades and was not inclined to negotiate. She had rejected several offers over the years and did not advertise her property as being for sale online. Even getting the asking price took effort. Their agent had to follow up multiple times. The seller eventually told them it was $2.5 million. She had recently rejected an offer below the asking price without counter-offering, so the couple didn’t bother negotiating. “We know we would only get it if we met all of her terms,” Thomas said. They submitted a straightforward offer, including skipping the inspection, at the asking price, and the seller accepted.
The money: Thomas and Stein put $2.5 million down in cash — the full cost of the property — the day they closed. They did not take out a mortgage. The funds came from the sale of Stein’s former software company, which he sold in 2018 for $60 million. Their renovation budget is still fluctuating.
The move: Thomas and Stein closed on the church at the end of September.
They spent the past few months figuring out how to approach the renovation, talking with people who had done similar projects, and meeting with contractors. “It’s a slow process,” Thomas said, “but it’s a really important part of it.” Now, they are finalizing contracts with vendors. She expects the entire project to take about two years. Construction is still a ways away.
They are living in their Society Hill rowhouse for now, and it no longer feels too small. “We’re pretty comfortable,” Thomas said. “Something changed for me after I had the twins. I think both of our tolerance for chaos just went up a lot.”
Any reservations? The couple is happy with their purchase, even though there are still many unknowns. “A lot of careful planning needs to go into this,” Thomas said. “There are a lot of open questions still,” Stein added. They will have to knock down a few walls to figure out what is even possible. It will take at least 10 months to finalize the design. The couple is up for it. “It’s a cool project,” Thomas said.
Life after close: Even though the renovation hasn’t started, the building is already functioning as part of the neighborhood again. The couple hosted a Halloween party for their neighbors, and a few weeks later Thomas had her daughter’s friends over to plant bulbs.