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Finally completed, 500 Walnut is the latest ultra-luxury building to join Philly's skyline

The condominium tower that made Philadelphia history last year when it sold its penthouse for a record-breaking $17.85 million celebrated its grand opening Tuesday, at a ceremony joined by Mayor Kenney, city officials, and developers from across the region.

The completion of 500 Walnut, the 26-story high-rise that sits across from Independence Hall, marks the end of the more than three-year endeavor by developer Tom Scannapieco to build on one of Philadelphia’s more challenging sites. Even more, with most condos in the building priced between $3.1 million and $9 million, 500 Walnut adds yet another ultra-luxury residential tower to Philadelphia’s skyline — signaling an ever-growing category of high-end real estate in the city as Philadelphia continues to grow wealthier and more attractive.

Today, the result of the collaboration is 35 condos, which currently, Scannapieco said, are more than two-thirds under agreement — the most he has ever had claimed at the time of a grand opening. The least-expensive unit, measuring 1,800 square feet, is under agreement for $1.8 million. The most expensive unit, the 8,900-square-foot penthouse — once rumored to be purchased by Beyoncé and Jay-Z (it’s not) — is under agreement for $17.85 million. Four of the sales, Scannapieco said, have been settled.

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http://www.philly.com/philly/busines...-20171017.html