Locust Point Condos for Sale in Philadelphia

Locust Point

2429 Locust Street Philadelphia, PA 19103

Locust Point Condos for sale are located in The highly desirable Fitler Square neighborhood of Center City, Philadelphia. An attractive condo conversion with units ranging from 592 - 1,028 sq. ft., these units make up a community of 110 one- and two-bedroom condominiums located at 25th and Locust Streets. Situated on the Schuylkill River waterfront adjacent to The Schuylkill River Park, Locust Point Condos are a great buy, especially if you are looking for condos near The University of Pennsylvania. These condos were the winner of 8 Building Industry Awards, including “Community of the Year” and “Best Condo”. This architecturally unique building features amenities such as stainless steel appliances, hardwood floors, granite countertops, high ceilings (approximately 15 feet), and new, huge windows with fantastic southern exposure. Onsite parking is available for an additional charge. The first-floor gym is open to residents at no additional charge.  Locust Point is a non-smoking building.

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Quick Sales Stats:
2022: 8 sales, Top price $556,600
2021: 10 sales, Top price $390,000
2020: 6 sales, Top price $576,000
2019: 9 sales, Top price $540,283
2018: 7 sales, Top price $520,000
2017: 6 sales, Top price $509,000

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I love Locust Point. I think the location, the composition of the building (in terms of unit sizes), and amenities are appropriate for the segment in which the building sits. I have sold a dozen condos in the building through the years. I have probably brought more buyers to Locust Point than any other Realtor in town. Here is why: Consistent demand over the years. It is located on the western edge of Center City and adjacent to the Univ. Of Penn/Drexel campuses, the building is primarily made up of one-bedroom condos and a smattering of two-bedroom units. I think the largest unit in the building hovers around 1100 sq ft. Onsite management, gym, and every unit has a small storage space. Some folks bought a garage parking space when the building was turned into condos.

So what are some of the factors that account for varying prices within Locust Point? I think the width of the unit plays a role, as does the location within the building of the unit- the south side generally garners a higher sale price than the north side. And there is a HUGE price difference between east and west. Lower floor east units face a brick wall, and all western units have a STUNNING view of the river. And of course, you may want to factor into some of the two-bedroom units the distinction of whether the guest bedroom is a platform style or an enclosed bedroom.

3 Things I Learned in The Condo Docs For Locust Point:

1) Locust Point owners have removed the weight limit on their pet policy. Two pets per unit, and the condo association may enforce breed restrictions.
2) Two units may be joined together, but only with permission from the Board.
3) Parking is assigned, and the 4th amendment to the declaration shows which parking space belongs to which unit.
4) They will install roof anchors (per OSHA) for window cleaning and maintenance.

Nearly all of their major capital expenses have been performed within the last 5-7 years and this includes:  

1) replacement roof, 
2) automated garage door, 
3) masonry and point work on all four sides of the building, 
4) interior refresh (common area carpet, paint, lobby, lobby furniture, gym and outdoor patio furniture), 
5) dunnage for rooftop compressors, 
6) replacement and upgrade of passenger elevator and freight elevator, 
7) exterior paint

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