143 S. 2nd St. AKA 121-35 Walnut St. Philadelphia, PA 19106
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2 Cents The Moravian at 143 South 2nd Street is a beautiful Philadelphia condo building which was built in 2004 from the ground up. A lovely piece of Philadelphia real estate, The Moravian offers good sized 2 and 3 bed Old city condo units for sale that have parking and a doorman and a few units have a tax abatement remaining. A very modern, hip, high-end residence located on the border between Old City and Society Hill, walking distance to many theaters, restaurants, and shopping. Located in the 19106 area of Center City Philadelphia, we have found the condos at 2nd and Walnut Street to be a great example of real estate in Philly that is new construction, yet take cues from the historic Society Hill neighborhood in which it sits. It does beg the question- are these condos in Society Hill, or are they in Old City?
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Quick Sales Stats:
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
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The Moravian is a unique low rise styled condo in the fact that half the building is new construction and the other half was existing... you might recall the Old BookBinders in Society Hill- that is the existing portion of the Moravian. The unit sizes range from One bedrooms to huge Three bedroom condos. Up until a few years ago one investor owned a number of the "existing" condos but he has recently listed them and have priced them to move. From day one the building fell into (pretty much) two categories- Condos in the existing portion of the building were rentals and the new portion of the building were condos that sold off. A fair number of the condos at 143 S. 2nd St. have parking, but not all..and parking is located in the basement of the newer building. Know that the old Bookbinders restaurant is closed and that space is vacant. I have no idea what is or might be filling that space in the future, and I do wonder if that portion of the building is paying condo fees... I honestly do not know. Most of the penthouse units are bi-level condos and show really well with water views. I don't have a lot of experience selling at the Moravian as we have only sold one condo at this address. Another one of my buyers got into a bidding war with another buyer and lost a penthouse here. A part time doorman sits at the front desk of the Moravian and the owner occupancy ratios are rising as the original investor is (again) selling off his units. There is no pool, no gym, or any common amenities to speak of- which keeps condo fees at a modest level. I would have to suggest buyers use caution when looking at comps for the Moravian as very few of the units are alike and the views can swing values at 143 S. 2nd St. in varying directions.