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  #21  
Old Posted Mar 22, 2016, 1:43 AM
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But---------what about the parking
75 below-grade parking spaces.
     
     
  #22  
Old Posted Mar 22, 2016, 12:12 PM
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I am well versed in sarcasm. It is my belief that this many apartments at this price point at this location are a complete non-starter.
Based on what? Aren't there $2M homes within a few blocks of this location? The entire area to the east of this is nearly completely gentrified.
     
     
  #23  
Old Posted Mar 22, 2016, 4:06 PM
MadhattersLT MadhattersLT is offline
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There's two mansions being built a block away. I live a block from this and new houses on my street last year went for +600k
     
     
  #24  
Old Posted Mar 22, 2016, 4:36 PM
Londonee Londonee is offline
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Originally Posted by boxbot View Post
I missed this chestnut:

Beverley said they have approvals for a 20-story high-rise project that would be comprised of 120 luxury condo units–valued at $1 million a piece.

At Broad and Fitz? They're outpacing gentrification by 30 years.
Are you familiar with this area? Houses are sold routinely for around $1mil just one block away in the Artisan complex. On Bainbridge and Broad are arguably the largestsingle homes ever built in Center City at 16,000sf.

This house on Pemberton Street about 75 feet away from the Broad/Fitz development just sold in December for $1.1m.

This Condo about 3 doors down on Fitz, just sold for $720k. This house at the end of the 1500 block of Fitz is currently on the market for $1.6m.

The price per square foot is certainly there, it really depends on the size of the condos and the amenities.
     
     
  #25  
Old Posted Mar 22, 2016, 4:45 PM
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Originally Posted by Londonee View Post
Are you familiar with this area? Houses are sold routinely for around $1mil just one block away in the Artisan complex. On Bainbridge and Broad are arguably the largestsingle homes ever built in Center City at 16,000sf.

This house on Pemberton Street about 75 feet away from the Broad/Fitz development just sold in December for $1.1m.

This Condo about 3 doors down on Fitz, just sold for $720k. This house at the end of the 1500 block of Fitz is currently on the market for $1.6m.

The price per square foot is certainly there, it really depends on the size of the condos and the amenities.
I am. There is a fundimental difference between selling a house here or there for $600-800k and selling out 120 condo units at $1m. Your $1.6m property has been sitting for over 100 days and has just been reduced, is still overpriced and is a different animal than a condo. That said, I'll drop it. I hope it works out.
     
     
  #26  
Old Posted Mar 22, 2016, 6:33 PM
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I am. There is a fundimental difference between selling a house here or there for $600-800k and selling out 120 condo units at $1m. Your $1.6m property has been sitting for over 100 days and has just been reduced, is still overpriced and is a different animal than a condo. That said, I'll drop it. I hope it works out.
Exactly. There is not a market here right now for million dollar highrise condo units, especially not 120 of them. Selling 4,500 to 16,000 square foot homes for $1+ mill is a whole hell of a lot different than selling 2000 square foot condos for $1+ mill and 120 of them at that.
     
     
  #27  
Old Posted Mar 22, 2016, 6:47 PM
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Originally Posted by boxbot View Post
I am. There is a fundimental difference between selling a house here or there for $600-800k and selling out 120 condo units at $1m. Your $1.6m property has been sitting for over 100 days and has just been reduced, is still overpriced and is a different animal than a condo. That said, I'll drop it. I hope it works out.
I thought its already been established this will be an apt building. if that is the case what is the disagreement about? No condos are coming apparently.
     
     
  #28  
Old Posted Sep 11, 2017, 5:50 PM
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Welp... no information on this project in a while. Going to close this thread for now. I will reopen it if more information surfaces.
     
     
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