And I’m not talking glamour or location…
In no particular order, these Center City condos were chosen based upon accumulative buyer feedback, sales pace, days-on-market, perceived value, interior characteristics of units, and amenities offered. And I tend to give lots of extra credit points for value and value retention over the long haul. It would be easy to simply choose a premiere Rittenhouse Square gem and tag it as one of the best- as the cache and prestige of such a building may indeed be in a class all its own. In our opinion, these Center City Philadelphia condo buildings also hold their own on a wide variety of criteria.
1) Center City One at 1326 Spruce St: Yeah- this is a perennial favorite of mine. A well managed building with a strong location, fantastic layouts and small balconies. Good storage and light really allow this building to “fire on all cylinders”. A tough combo to beat. Here is more info on the building from my website with photos, video, floor plans, etc:
2) Rivers Edge at 2301 Cherry St: The condo board is spending money to enhance values in terms of capital expenditures, a kick-ass location in 19103 and parking. Try to top that….Impossible at the current pricing structure. Most units also with large balconies. Boom. Here is more info on the building from my website with photos, video, floor plans, etc:
3) The Philadelphian at 2401 Pennsylvania Ave: The almost “mid-century modern” feel at 2401 is endearing. Most units are over sized and offer generous views, closet space and balconies. Top-notch management and amenities for occupants. When a unit in the building gets rehabbed- they are gorgeous and in heavy demand.
4) The Dorchester and The Hopkinson House Why am I lumping these two together? Because they both are: The Toyota of Center City condo values (they’re dependable, reliable and they resell well) and these two buildings are pretty much interchangeable in terms of livability, views, and demand. One sits on Rittenhouse Sq., and one on Washington Sq. Demand clearly outweighs supply in both buildings.
5 ) Ritz Carlton at 1414 S. Penn Sq. Selling like hotcakes and for good reason. Pricing and service. With the completion of Dilworth Plaza across the street and the fact that Philadelphia needs this price segment in addition to the services offered- nice place to hang your hat. Give me a “B” unit (the three bedroom in the building) and I promise to forever shut up.
6) 9xx and 10xx Clinton St: Tree lined quiet street close to Jefferson with brick sidewalks, gas lamps and very little traffic. Large parking garage at the end of the block doesn’t hurt livability. Some of the finest low rise/Brownstone styled condos in the city live on these blocks. For instance, the Coles House:
7) Naval Square in Graduate Hospital Area: I don’t care what you say- very few buildings in town can boast the array of flats in town with exceedingly short marketing times…they sell very quickly. Almost all have parking, sit on nearly 20 acres and have a nice gated community feel.
8) The White Building at 105 S. 12th St: The inability to duplicate this kind of look almost puts it in a class of its own. And all the new apartment buildings in the area add people, activity and security to the area. Residential activity..which is always a good thing. Super groovy interiors… http://centercitycondos.com/new_construction/white_building.html
9) 1706 Rittenhouse: The values keep climbing. I would suggest the anonymity the building provides, the fit and finish being top notch and the scale of the condos are off the charts. In terms of pure investment potential- I have seen few buildings in town that have appreciated the way 1706 has over the past few years.
10) Locust Point at 2429 Locust Street: A modest loft building on a quiet side street in the heart of Fitler Square. And the new construction next door isn’t going to hurt values. Good luck finding a two bedroom for sale- I haven’t seen one on the market at Locust Point for nearly a year.
Clearly the list could be a mile long. There are many fine buildings here in Center City and some weaker buildings as well in terms of value retention, “days on market”, livability as well as the viability of the condo association.