The Moravian Condominiums
143 S. 2nd St. aka 121-35 Walnut St. Philadelphia, PA 19106
Snapshot
The Moravian At a Glance
| FEATURE | DETAIL |
|---|---|
| Year Constructed |
2004 |
| Residences |
25 |
| Parking | 19 Deeded Garage Spaces |
| Pets | Pet Friendly |
This modern, high-end condominium building is located at the crossroads of Old City and Society Hill. Residences are primarily spacious 2- and 3-bedroom condos, many with parking, and doorman service. The architecture is contemporary but takes cues from the surrounding historic neighborhood, giving the building a natural fit. Its location near 2nd and Walnut Streets puts restaurants, theaters, shopping, and much of historic Philadelphia within easy walking distance.
Listings
Outline
The Moravian at 143 S. 2nd Street is a distinctive condominium building located near 2nd and Walnut Streets, right at the meeting point of Old City and Society Hill. What makes The Moravian unusual is that it combines newer construction with an existing historic structure. The newer portion was built in 2004, while the older portion incorporates space associated with the Old Original Bookbinder’s property. Residences range from one-bedroom condos to large three-bedroom homes, with considerable differences in size, layout and views throughout the building.
The Moravian has essentially operated as two different sections in its earliest days. Many of the residences in the newer portion were originally sold to individual owners, while a single investor retained a number of units in the existing portion and operated them as rentals. Over time, those investor-owned residences have gradually been offered for sale, increasing the building’s owner-occupancy ratio. Because of these differences, buyers shouldn’t assume that one Moravian condo will necessarily be comparable to another.
Many of the penthouse residences are bi-level condos, and some offer impressive river views. These can be among the more interesting residences in the building and show exceptionally well. Views matter at The Moravian and can have a substantial effect on value. A fair number of residences include deeded garage parking, but not all of them do. The garage is located beneath the newer portion of the building and each space has its own City real estate tax account/bill and condo fee, separate from the unit.
The Moravian has a doorman/front-desk attendant, but it does not offer the extensive amenity package found in many larger Center City buildings. There is no swimming pool, fitness center, or significant shared amenity space. The tradeoff is that condo fees tend to be more modest than at buildings offering extensive common facilities. The former Bookbinder’s restaurant space is separate from the residences at The Moravian. A few restaurants/bars have operated in that space since Bookbinders closed, and most recently, Dan Tsao, the owner of the well-renowned restaurant EMei, has just leased the space this year (2026).
We have only sold a few residences here, and a buyer of mine once got into a bidding war over a penthouse and ultimately lost it. But I’ve seen enough of the building to know that comparing values here requires some care. Very few of the residences are truly alike. Differences in size, floor plan, parking, condition, location within the building and especially views can push values in very different directions. I wouldn’t put much weight on a simple building-wide price-per-square-foot calculation without first looking closely at which units are actually comparable.
I also think The Moravian occupies an interesting niche. Buyers get a smaller, lower-rise building in one of the most walkable parts of Philadelphia, without paying monthly fees for a pool, gym and extensive amenity package they may never use. And then there’s the question: Is The Moravian in Old City or Society Hill? Sitting at 2nd and Walnut, it’s right on the edge. Depending on whom you ask, you may get a different answer, and I’ve heard both for years.
Quick Sales Stats
2025: 4 Sales, Top Price $1,230,000
2024: Sales, Top Price $1,089,000
2023: No Sales
2022: 2 Sales, Top Price $1,595,000
2021: No Sales
2020: 4 Sales, Top Price $970,000
2019: 1 Sale, Top Price $925,000
2018: 1 Sale, Top Price $1,210,000
2017: 2 Sales, Top Price $925,000
2016: 2 Sales, Top Price $1,125,000
Two Cents
I’ve been showing and selling Center City condos for nearly 40 years, and The Moravian is one of those buildings that doesn’t fit neatly into a category. Sitting at 2nd and Walnut Streets, right where Society Hill meets Old City, it’s small, private and considerably different from the larger condo buildings buyers often consider in Center City.
The building is unusual because it combines an older portion with newer construction. The older section is closest to Walnut Street, and the size, shape and layouts of those residences can be very different from the newer portion. That’s one reason I caution buyers against relying too heavily on price-per-square-foot comparisons here. Very few Moravian units are truly alike.
The Larger Flats Are Hard to Find
Some of my favorite residences at the Moravian are the large, single-level three-bedroom units in the newer portion, particularly the corner units. Some exceed 2,000 square feet and combine large living and dining areas, fireplaces, good light and parking.
For a buyer who wants substantial square footage but doesn’t want stairs inside the unit, that combination can be difficult to duplicate. The older portion tends to have larger and more unconventional residences, including a number of bi-level layouts.
Closet space is also generally more generous than what I find in many comparable Center City buildings.
Views, Windows and Floor Plans Matter
The Moravian isn’t especially tall, so floor height alone doesn’t determine value. What matters more is the particular unit.
Some of the upper eastern residences have very attractive Penn’s Landing views, and many of the upper-floor units are bi-levels. I’ve found those particularly appealing.
One less obvious factor is window size. I’ve been in a couple of otherwise substantial Moravian residences where a large wall has surprisingly small windows. That’s something buyers may not notice on a floor plan, but in my opinion it can affect both the experience of living in the unit and eventual resale.
Interior condition matters, too, but the original construction gives owners a good starting point. I’ve always considered the original fit and finish above typical contractor grade. You see it in the doors, flooring, faucets, lighting, bathroom fixtures, cabinetry and appliances. Buyers in Philadelphia tend to recognize quality when they see it.
Parking Is Important at The Moravian
A fair number of residences have underground garage parking, but not all do. The garage is located beneath the newer portion of the building.
That distinction matters. Parking is an important value component in this part of town, and I would expect an otherwise comparable unit with parking to have an advantage over one without it. Nearby rental parking options can make a residence without parking more workable, but buyers should verify current availability rather than assume they can always rent a space.
Don’t Buy Here for the Amenities
There is no pool, fitness center or large common amenity package at The Moravian. That’s really not the point of the building.
What you’re buying is space, privacy, quality and location. The building is very quiet, and with relatively few residences, you don’t constantly run into neighbors. The lobby isn’t particularly large, and residents often come and go either through the front entrance or directly from the garage.
A part-time doorman is on duty, and I’ve also seen exterior and lobby cameras used as part of the building’s security. For someone who values privacy more than a busy social environment, that’s part of the appeal.
Outdoor Space Is Limited
I wouldn’t put The Moravian high on the list for a buyer whose first requirement is a substantial terrace or balcony.
Only a limited number of residences have private outdoor space, and some of it is more catwalk than conventional balcony. A couple of units have very long balconies, but they’re relatively shallow.
Again, that’s the tradeoff. The Moravian is about the residence itself, not a long checklist of amenities and outdoor space.
What Drives Value?
This is a building where I’d be careful with comparable sales.
When I’m evaluating a Moravian residence, I’m looking at older versus newer section, flat versus bi-level, parking versus no parking, interior condition, views, window configuration and the particular floor plan. Those differences can make two units with similar square footage very different properties.
A recent example illustrates the variety: a 2,152-square-foot upper-floor residence was configured as a bi-level three-bedroom with multiple exposures, a fireplace and Juliet balcony. That’s a very different product from one of the large single-level residences.
Current financials, reserves, assessments and planned capital projects should always be reviewed from the latest condominium documents during a purchase. I don’t have enough recent firsthand information to characterize the association’s current financial position, and I wouldn’t pretend otherwise.
Location Is a Big Part of the Appeal
The Moravian sits right between Society Hill and Old City, and I think it gets something from both neighborhoods. Your home can be remarkably quiet while Old City’s restaurants, coffee shops, galleries, and shops are just outside your door. The location is also highly walkable; my current building page reports a Walk Score of 94.
I’ve always thought Old City attracts a slightly different buyer than Rittenhouse Square. Some people want something a little funkier, artsier, and less formal. The housing stock reflects that personality, and so do many of the buyers.
Who Is the Buyer for The Moravian?
The Moravian isn’t necessarily the building I’d recommend to a young single professional looking for a built-in social scene. It’s too small and private for that.
But for someone who wants large rooms, good construction quality, privacy, a quiet setting, and a boutique building without paying for amenities they don’t need, it can make a great deal of sense.
I often compare it with 410 Society Hill, The Lippincott and 108 Arch, depending on the buyer. But The Moravian has its own personality.
That’s ultimately what I think buyers need to understand: The Moravian isn’t trying to be a large luxury high-rise. It’s a small, somewhat offbeat boutique building with unusually large and varied residences in one of the most interesting locations on the Society Hill/Old City border. For the right buyer, that’s exactly the attraction.
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