Philadelphia Real Estate Blog

The plan is for 54 condos, along with long- and short-term rental units located in a 48-story high-rise with retail on the first floor.  With prices starting around $2.5M, the developer (Southern Land Company) is hoping for a groundbreaking in 2019.

According to Multi-Housing News, “residents will receive white-glove amenities that include valet parking, indoor lap pool and hot tub, five-star fitness center with luxury locker room, steam room and sauna, yoga and Peloton room. A club room and terrace overlooking Rittenhouse Square will offer bar and catering kitchen, conference room and dog spa.  Residents will also be afforded use of the luxury car service, as well as the rental suite for their out-of-town guests.”

Photo Source: Southern Land Company 

Designed by Solomon Cordwell Buenz, this project aims to be Philly’s tallest residential-only building.  Their plan is to open a sales office at 1845 Walnut in the spring.

Mark Wade
www.CenterCityCondos.com
BHHS Fox & Roach Realtors
Mark@CenterCity.com

1) The process of getting a mortgage will drive you up a wall. Someday there will be paperless closings, I am sure. Until then, you will have to sign your name 1,378 times. Just know that you are being tortured just as equally as everyone else.  (Check out our preferred lenders here – they will make this process as painless as possible for you – I promise!)

2) The seller may leave your new home in a condition you find unacceptable. Rarely will a seller have the home professionally cleaned after they move out. If they do, know that you should thank them…honestly.  You should also be grateful if they remember to bring ALL the keys, key fobs, garage door openers, door codes, and the mailbox key to closing…

3) You will find holes left in the walls where the seller’s artwork once hung. Yeah- artwork and framed photos don’t magically float.  It would be illogical to assume that some holes will NOT be left. Sorry.

4) You can’t move in prior to settlement, nor may you move any of your belongings into the condo prior to settlement. Most buyers get this, but some get p*ssed when they learn they may not do so.

5) You have to coordinate your move-in with the condo management company and there may be restricted time frames that the building allows move-ins – weekends and after 5pm is most likely a no-no.

6) While chatting with the seller at the table, you find out you can’t have a BBQ grill on your deck, or that the building has rules on visitation, like extra fees for parking, etc. because you didn’t read your condo docs and now you are shocked and p*ssed. Not uncommon.

7) No one told you that your closing funds have to be in a cashier’s / bank check or wired in prior to settlement. (Our preferred title people will not let this happen to you – again, I promise!)

Mark Wade
Mark@CenterCity.com
BHHS Fox & Roach Realtors
www.CenterCityCondos.com