1420 Locust St. Philadelphia, PA 19102
In my opinion, The Academy House is the Toyota of Center City condo values. These units have a great track record of reselling- always have and likely always will. A very smart purchase. Condo fees include almost all utilities. An elevator building in a very central residential location, with rental parking in the lower levels, and 24-hour doorman. A fair number of units have outside balconies. A non-smoking building. Values not heavily contingent upon floor height, as many units have great views. No dogs allowed in the building. All units are flats- no stairs. Fourteen thousand light bulbs in residential units were replaced with LEDs in 2018. Some additional improvements include new LED lighting and new signage at entry. There was a complete renovation of the main lobby and restoration of the outdoor terrace plaza, including a new sun deck. The building converted from steam to gas-saving an estimated $200,000 per year on fuel costs. A brand new fitness center was constructed, including state-of-the-art, top-line equipment and an aquatic center, including two swim-in-place pools. Renovation of the Terrace Level Lounge is planned for 2019 and will feature large flex space for lounging, cards, studying, galley kitchen, and private board/meeting room.
*The Fair Housing Act allows residents of almost every type of property - apartments and condos - to have an emotional support dog or a specially trained service dog if you get the proper medical documentation from your doctor, despite restrictive Pet Policies. There are now many emotional support dogs in the building.
- Neighborhood: Avenue of the Arts/Rittenhouse Square
- 24 hour Doorman building (Always more than one on duty)
- Year Built: 1976
- 18 Floor Plan Varieties
- Unit Sizes: 521-1590 sq. ft. - Studios to Three Bedroom Condos
- Electric Cooking
- Vented Dryers and hood ranges
- Washer/Dryer in Most Units
- In-house Rental Parking Available
- Cat friendly
- Compare to: Dorchester, Hopkinson House, Center City One
- Condo Fees Include: Master Insurance Policy / Management / Common Building Maintenance and Building Expenses / 24 Hour Doorman / Pool / Gym / Electric / Water and Sewer / Basic Cable with HBO and Internet (all utilities)
Five Fast Facts about The Academy House:
- 1) Named so because the building sits adjacent to the Academy of Music
- 2) The building has 576 units total and stands 37 stories tall
- 3) Academy House offers On site rental parking, gym and indoor pool
- 4) Sits on the Southeast corner of 15th and Locust Streets in the often unknown 19102 zip code
- 5) Some of the larger interior units which face east have unusually large balconies
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I sold a unit about a dozen years ago to my friends Roberta and Yaan- and I still keep in fairly close contact with them about what goes on at the Academy House. They love the building, and Roberta is pretty sharp when it comes to knowing the ins and outs of 1420 Locust St. Over the years I have probably sold a half dozen units at The Academy House condos and here is what I think:
Solid values, solid central location, and very well managed. Like the Hopkinson House, I refer to the building as the Toyota Of Center City condos. Easy to resell, good value retention over time, and the condos at 1420 Locust have had a fairly steady demand over the years. The Academy House condo association has replaced interior unit windows (huge upgrade), and in 2013 they revamped the interior hallways- which look great. Most recently, they renovated their lobby, which is a huge improvement.
I think a lot of my buyers find the location of 1420 Locust St. to be key- you are really in the heart of Center City, and if walking around town is a priority for you, then the Academy House has that issue down pat :-)! The units generally excel in great closet space, and many of the condos have balconies. 1420 Locust is a non-smoking building, and dogs are NOT allowed...though they do allow cats. The building has rental parking on the first floor of the building, and many parking garages are within 100 feet of the building- believe me when I tell you that parking is not an issue here. The Academy House condos are known for having a wide variety of unit sizes and layouts- So be careful if you are looking at comps. Not all two-bedroom condos are the same in terms of layout and value.
These condos are very popular with the University of Penn and Jefferson Medical folks, not to mention those at Hahnemann, as the Academy House condos at 1420 Locust St. seems to kinda’ sit smack dab in the middle of those three institutions. I know several folks who live here, so my current clients should not hesitate to let me know if they want to talk to a current condo owner at 1420 Locust St.
What a condo owner at The Academy House says about the building:
John and Barbara say, “We have been here seven months now, and from the beginning, we have been delighted to be living at Academy House. As for the building itself, it is clear that security - around-the-clock - is a top priority of management and staff. The staff seems to know everyone who lives here, and NO visitor or delivery person can get on an elevator if the staff hasn’t gotten direct telephone approval from the resident. The staff, courteous but firm with outsiders, are courteous, helpful, and most pleasant with residents. And the location could not be better. In addition to the immediately visible amenities right here, less obvious to a visitor is the convenient transportation. Taxis are always cruising by, a bus stop and subway entrance steps away, and a valet-service garage within the building. On a personal note, the location and transportation are so satisfactory that we have sold our car. When taxis don’t suffice, we use hourly rentals from Zipcar; their cars are available at three very close lots.”