Philadelphia Real Estate Blog

Great news! We just received word that The Peninsula Building at Waterfront Square has been approved for FHA Financing!

As you can see, the Reef Building has also been approved. This is great news for Waterfront Square! The approval is valid for 2 years.
FHA insures condominium single unit loans for up to 30-year terms to purchase or refinance a unit in an FHA-approved condominium project.

For more information about FHA condos, click here!

Mark Wade
BHHS Fox & Roach Realtors
530 Walnut St. #260
Philadelphia, PA 19106
www.CenterCityCondos.com

Having lived in many many Center City Condos over the years, here is what I believe to be the case in terms of costs to heat and cool a condo- Generally, you have someone living above you, below you, and on perhaps both sides of you, so your exposure to the elements is limited. It is not like you are living in a McMansion on the side of a hill in Ardmore. You follow me?

And heat has a tendency to emanate into your condo- you will probably be surprised how little heat you actually use. The fact that the majority of condos in town are one-level, your AC bills tend to be on the low side as well- It is not like you are trying to cool three floors. I live in a 1450 sq ft. condo in a newly constructed building here in town. My average electric bill is about $100 a month. I pay no gas, no water- both covered by the condo fees. When I lived in a 2200 sq ft converted loft, my bills were about twice that- but lower than I could have ever paid in a single family home somewhere….

Mark Wade
www.CenterCityCondos.com

WE ARE OFFERING FREE BUYER REPRESENTATION….EMAIL US FOR DETAILS Mark@CenterCity.com

1) WATERFRONT SQUARE:
Located at 901 N. Penn St. is the complex known as WaterFront Square.Thirty-five condos will be auctioned, including four one-bedroom/1.5 bath units; 16 one-bedroom-plus-den, two-bath units; five “junior” two-bedroom, two-bath units; and 10 two-bedroom-plus-den, two-bath units. The minimum bid prices will range from $195,000 to $415,000.
The auction will take place at 4 p.m. Sunday, Nov. 21, at the Hyatt Regency Philadelphia at Penn’s Landing, 201 S. Columbus Blvd.

Waterfront Square is a gated community on 10 acres. It boasts the largest green roof in Philadelphia – grass covering the parking garage – and has round-the-clock security, a clubhouse, fitness center and spa, swimming pool, and 24-hour concierge in each tower building. A tax abatement is in place for all units, and ALL units include One Parking Spot!
This minimum bid auction has prices starting at 60% off previous List Prices! I really like this development…some lucky buyers are going to get a lot for their money here. We have sold a number of units, and believe that although not all units are created equal, the deals are going to be strong!

2) THE WINNE BUILDING
Located in the Old City section of Center City Philadelphia at  38-44 N. FRONT ST. the Winne is a lovely old warehouse condo development with some really strong interior features. Set for the Fall of 2010- Date to be determined -12 units at the Winne Building will be auctioned -studio, one and two bedroom units. This building is a low-rise elevator building that was fully rehabbed in 2008. Existing tax abatement to units being auctioned. Beautiful Original Random Width Pine floors in most units, exposed brick, high end bathrooms and new stainless and granite kitchen. Lovely common areas with really neat lobby.  All new mechanical systems including electric, Heat, Central Air, and appliances. LAST listed prices on these units from $259,000 – $449,000 – Expect Lower Prices!

Judging from our earlier success at the Murano auction and Phoenix auction, we expect some fairly good deals to come about when the auction is held. Please know that we have sold a dozen units in this building in the past. All auctioned units have yet to sell, and most have been rented out for the past year, to year and a half.

Interested? Send us an email at Mark@CenterCity.com or call us at 215.521.1523 and we will set an appointment with you to walk through the building when permissible. 

Mark Wade 215.521.1523
Mark@CenterCity.com
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106