In my opinion, it's dead. Think about it. Starting prices at $3.5 Million at 1706 Rittenhouse as opposed to Richard Meier's spectacular Mandeville Place which starts at $1.98 Million after reconfiguring the layouts...??? The developer of Mandeville Place is calling other developers in town to try and sell the land and get out. If they can't make Mandeville a reality at a lower price and far superior design than 1706, who the hell would put their money down on 1706??? These are pipe dreams that will probably never get built I'm afraid. At least not in the near future. And that's not me being pessimistic, just realistic. I don't think Philly has those kinds of buyers yet. If you can afford $3.5 Million, you can still afford to live in New York quite comfortably. My NYC friends who move to Philly are looking for bargains and more space that they can't afford there...they're not spending north of $3 Million to get it!
Last edited by CondoGuru; May 22, 2007 at 9:50 PM.
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