Rittenhouse Plaza

1901 Walnut Street Philadelphia, PA 19103

1901 Walnut St. is not a condo building; it is a Co-Op. Buyers love the pre-war details- and a wide variety of sizes and styles. Monthly fees INCLUDE taxes. Most buyers agree that the Plaza houses some of the coolest penthouse units in Philly. Secure parking (loading zone) out front of the Plaza- door attendants help w/packages, etc. Art Deco style huge lobby that buyers find impressive.

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Quick Sales Stats
2022: 9 Sales, Top Price $1,709,200
2021: 8 Sales, Top Price $1,610,000
2020: 3 Sales, Top Price $855,000
2019: 4 Sales, Top Price $2,100,000
2018: 5 Sales, Top Price $1,050,000
2017: 8 Sales, Top Price $1,300,000
2016: 7 Sales, Top Price $950,000

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The Plaza is the only pre-war high-end co-op building in town. Sitting on the north side of Rittenhouse Square, 1901 was built in the late 1920s and retained many nods to the Deco style. The building could be split down the middle as the West side of the building houses the "D, E, and F" unit, and the east side houses the "A, B, and C" units. Many alterations to a substantial percentage of the units over time give rise to the fact that there is an overwhelming number of floorplans- many units added to and divided up over time.

The building is a co-op and not a condo building meaning taxes are included in the monthly fees as is heat, water & sewer, doorman, insurance, building maintenance, and management. I have a few friends in the building, and I've sold close to a dozen units over the past 24 years. I think the Plaza was smart to do some heavy and nearly completed renovation work that many older buildings often need. This kind of forward-thinking and maintenance work will indeed preserve values over time and ensure a smoothly operated building. Management has always helped answer questions and help with items needed to convey units at 1901 Walnut St. Because the building is a co-op, you do indeed have to go in front of the board to be interviewed. You may be rejected-it is the board's prerogative. And know that The Plaza has a very restrictive rental policy in place to keep the owner-occupancy ratios exceedingly high, which I think is suitable for the building. If pre-war is your thing, then you really should see some units at the Plaza. The most prevalent style is the "C" and "F" styles which are Two bed, Two bath units with large kitchens and formal dining rooms. These styled units can be a terrific value- especially when fully rehabbed. I think these units are currently undervalued for the marketplace, and we will see a surge in the prices of those units over time. The Penthouse units at the Plaza are nothing short of astonishing. Besides perhaps the (rental) Drake Tower at 1512 Spruce St- The Plaza at 1901 Walnut has the most stunning penthouse units in town. They rival many NYC penthouses. They indeed rock. They are mansions in the sky—bi-level townhouses in the air, no less.