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November 24, 2014

Here is What I am hearing around town…

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 10:47 am
1) Rivers Edge Condos at 2301 Cherry St: There can be little argument that prices and demand for the building are on a huge upswing since residents have implement and paid for assessments for improvements made to 2301. Just look at the sales in the MLS. And it makes sense- a killer location in the 19103 zip with parking. Winning!

2) The Coronado at 2201 Chestnut St: Facade overhaul – even decorative elements of this lovely pre-war are being removed and recast…including ironwork and window frames. Foyer and front entrance being studied to include doors, lighting, canopy and tile restoration work. And they have limited their allowable rentals-BRAVO!

3) WaterFront Square at 901 N. Penn St: In the middle of some really groovy renovations to the entrance including an attractive water feature and improvements to the larger of the two dog parks. The entrance was benign and bland. Not any more…

4) The Plaza at 1901 Walnut St: Assessments are finished and interior (behind the walls) work done to common elements. New entrance and foyer area work completed as well as mail room. I think 1901 is poised for real value growth.

5) GrandView at 1100 Vine St: Recently refinished the lobby area..and holy crap is it stunning. Someone here had a good eye.
Also plans for redoing the entire 2nd floor (common area) to include new/expanded gym, yoga studio and commercial kitchen areas. First floor commercial offices being rented out as well- which will help curb appeal. Smart Center City Condo building- one of first to put a severe hold on rental ratio. Very smart indeed.

6) BridgeView Place at 315 New St: Finished the common roof deck and exterior brick work (some time ago).

7) Hopkinson House at 604 S. Washington Sq: A face lift project to the front entrance plaza area is well underway as well as installation of a handicap ramp and the repair of deteriorating underground structural beams and expansion joints.

8) The Academy House at 1420 Locust St: Upcoming improvements include lobby and arcade renovations. Fabulous!
And the employees recently rejected the idea of “going union.”


Mark Wade
Berkshire Hathaway Home Services | Fox & Roach Realtors®  
 530 Walnut St. Suite 260
Philadelphia, Pa. 19106
Mark@CenterCity.com 
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December 23, 2013

Guest Post: Philly is Swimming in Condos with Pools

Filed under: Center City Real Estate,For Buyers,General Real Estate — Center City Philadelphia Real Estate Agent @ 10:25 am

Real estate trends are not unlike those in fashion, technology, and fad diets: there’s always an “it” characteristic that buyers and renters have to have, and those “it” descriptors go as quickly as they come. However, like the staple pieces in a wardrobe, there are some criteria that are always in demand. In Philadelphia real estate, everybody seems to want their condo to have a pool.

It’s easy to see why: pools are great for exercising, relaxing, and entertaining. If you’ve got a pool while living smack in the middle of, say, Rittenhouse Square, you’re living the life. Here of some of Philly’s favorite condos that offer pools.

Residences at the Ritz Carlton, Rittenhouse Square

Don’t be fooled by the fact that the Residences at the Ritz Carlton stand at the location of the old Meridian Tower — these condos are as modern as they come. The Ritz Carlton is one of Philadelphia’s most luxurious buildings, offering all the bells and whistles when it comes to amenities: valet parking, a gym, and, of course, a 60 feet pool, complemented by a hot tub. Just outside, residents can enjoy a gated garden in Girard Park as well as a public park area from which you can admire the 48-story-tall building’s distinct blue glass architecture.

The Murano, Logan Square

One of the most easily-identified buildings in Center City, The Murano Condominium building stands at 42 stories high and has condos to offer with up to three bedrooms. The swimming pool is located on the 6th floor and surrounded by both indoor and outdoor deck areas, making it ideal for relaxing. However, residents seem most impressed by the in-house gym, which is arguably one of the best in the city. Each unit offers a breathtaking view of the city, a unique floor plan, and a modern design.

Symphony House, Avenue of the Arts

Whether a buyer is looking for a one-bedroom condo or a huge penthouse, it’s an option at Symphony House. It’s been somewhat recently introduced to the Philadelphia skyline and makes a great addition for anyone who would enjoy living in the cultural hub of the city. Residents get to enjoy the on-site pool as well as other conveniences like a gym and a 24-hour concierge. Perhaps its most attractive feature, however, is the fact that many of the units are heavily customizable.

Academy House, Rittenhouse Square

Another Rittenhouse high-riser, Academy House condos are a smart buy. Conveniently, nearly all the unit’s utility costs are built-in to the condo fees. Many of the units are newly made over or in the process of being renovated, which adds to their value — though former residents will tell you that the resell record of these units is fantastic. With balconies, an on-site pool, an on-site gym, and rental parking, Academy House units are economical while meeting many buyers’ criteria.

If you’re perusing the retail market for a building with a pool, you won’t be hard-pressed to find one in Philadelphia. In fact, you’ll have to narrow down your search by deciding upon neighborhood, customizations, and other amenities.

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July 24, 2011

Philly Condos & Restrictive Pet Policies

Filed under: For Buyers,General Real Estate — Center City Philadelphia Real Estate Agent @ 8:36 am

Philly Condos- Not All Allow Pets

 

No Dogs or Cats:    2401 Pennsylvania Ave (The Philadelphian)

No Dogs, but yes to cats:
The Dorchester                    The Wanamaker House
Society Hill Towers                    Rivers Edge (2301 Cherry)
Hopkinson House                    Academy House

In today’s competitive condo sales market, there is one rule that stands above all others that may determine whether or not your condo is going to be looked at by potential buyers- Your Condominiums rule with regards to pets. Rules vary from building to building and some are very open, and some buildings are very restrictive.
Most buildings in town will have some kind of restrictions as to pet ownership- specifically dogs.
Restrictions in terms of dog size, breed, or the number of dogs per owner. All makes sense to me. But NOT to allow dogs is one sure way of restricting resales in the building.
Susie the buyer is NOT going to give up her cherished Poodle in order to live in your building, should you be on the above list.  In my opinion, those rules are SO OUTDATED….
Why not put limits on size and breed? Or allow ONLY owners and not renters to have pets?
Mark Wade
www.CenterCityCondos.com

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February 2, 2011

Pet Policies in Philly Condos

Filed under: For Buyers,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 11:41 am

…They vary from building to building

Every Philadelphia condo association has its own set of rules and regulations in regards to cats, dogs, giraffes, and other miscellaneous pets. The general rule of thumb is as follows:

1) Low Rise and/or Brownstone Style condominiums

Almost ALL of these small associations allow dogs and cats. I dunno’ about giraffes. Rarely are size, or breed restrictions in place. Such is the case at The Garden Condominiums on the 1600 block of  Spruce Street. No elevator, and limited common space generally mean more relaxed pet policies. However, there may be a nuisance clause inserted into the condo docs, should your pet be continually yappy, or prone to biting the neighbors.

2) High Rise Condos

All Pre-War buildings on Rittenhouse Square allow dogs and cats. Breed restriction or weight limits may apply. It has been my experience that smaller high rise (and high-end) buildings with limited number of occupants do allow pets- Like 1900 Rittenhouse Square.  High rise Philly condo buildings with large populations (Academy House)  generally will not allow dogs.

Large condo associations looking to rethink their restrictive pet policies can implement size and breed restrictions to keep disruptions and the “fear factor” out of the common areas of any given association. This idea will probably gain in popularity as associations look for ways to attract, instead of repel potential buyers. In my 20+ year real estate career here in Center City Philadelphia, I have realized that the buying public is about 50 times more likely to purchase a condo with a relaxed pet policy. Most buyers will give up their first choice of condo buildings, before they will give up their beloved pet. I wouldn’t dream of giving away my dog to live in any specific building here in Center City. Would you?

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

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May 5, 2010

Washers, Dryers, and Refrigerators

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 12:26 pm

…are Personal Property in the State of Pennsylvania!

 

I am often asked if all the appliances are included in real estate transactions here in Center City Philadelphia.  The answer is no.  A stove is considered to be “attached” and will always transfer with title (unless excluded and agreed upon by both buyer and seller).  A built-in microwave? Attached and included. A microwave sitting on a counter top? Not included.

Washer/Dryers and Refrigerators in this state are like socks and coffee cups- personal property that is not included in the agreement of sale UNLESS specifically specified. Even though these days few sellers want to lug such dinosaurs to their new Philly condo, unless you specify that they are included in your Academy House condo (for instance)- THEY ARE NOT.

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

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March 9, 2010

Condos for Jefferson Medical College Attendees

Filed under: Center City Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 4:55 pm

Jefferson Medical College is located on the edge of the Washington Square West neighborhood of Center City Philadelphia, and every spring, my website is abuzz with the new incoming attendees of this fine institution.

So what do the incoming residents look for when purchasing a condo near Jefferson Medical School? I usually find that proximity and safety are at the top of these buyers priority list when condo shopping. Also, I find most students will want to see the Hopkinson House and maybe even Academy House condos.

hop house   the_academy_house

Condos along the Spruce St/Pine St corridor are always very popular for those looking for a low rise/ Brownstone styled condominium. In the high rise sector, we have the Lenox at 13th and Spruce, the Western Union Building at 11th and Locust, and the Victory building at 10th and Chestnut Street.

There is a fair amount of inventory available, and all kinds of styles fit most buyers’ needs and tastes. I think a great place to start a search for Jefferson Medical School condo buyers would be the plethora of condos near 10th and Spruce Streets. The surrounding blocks hold a variety of sizes and styles. Next up would be to hit the doorman buildings in the area.

Want to start your shopping online, prior to your arrival in town? Drop me an email at Mark@CenterCity.com, and lets chat!

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

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August 27, 2009

Tallest Center City Condominium Buildings…

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 4:16 pm

Liberty Two    58 stories
The Ritz Carlton    44 stories
The Murano     42 stories
The Academy House    37 stories
The Hopkinson House    35 stories
The Aria    33 stories
The Dorchester    32 stories   
The Wanamaker House    32 stories
Society Hill Towers    31 Stories
 
Wanna’ live way up high? Give me a call, and let’s go visit some of the highest residences in Center City Philadelphia!

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

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May 12, 2009

Buying a Rehabbed Center City Condo?

Filed under: Center City Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:15 pm

It is difficult to put a price on a new kitchen in say, The Hopkinson House condominiums, or the Academy House condos. Though it is easy to calculate what the seller may have paid for the new granite, the appliances, and the cabinetry, but what about all the other costs associated with a new kitchen in an existing high rise condo here in Philadelphia?

Consider the fact that you have to first plan for the new kitchen. You measure, you check, you curse, you get confused, you wing it, and you now have some plans. But you have to pull permits from the city. And get approval from your condo association. You then must shop for all the new ingredients- including baseboard, toekicks, quarter round, and backsplash tile. You then need to get rid of your old kitchen. It is not like you can just throw the sink down the trash chute. And you have to live with this mess. And without a kitchen for a while as well. Then you have to take delivery of the new cabinetry and appliances and all (from M-F 9am-4pm only in most Philadelphia condo highrise buildings) and see that your delivery men get a parking space, don’t bang the walls in the hallway, etc. Next plan for something to go wrong, and put your plans back 3 weeks. It happens. All the time 🙂

So congratulations. You now have a new kitchen. And a healthy respect for EVERYTHING you had to go through to get this new kitchen inside your new Center City condo. And you swear you will never do it again. So, you still think that new kitchen in the condo you are looking to buy is only worth $20,000?

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

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March 17, 2009

Philadelphia Condominium Pet Policies

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 10:19 am

…Vary Building by Building


 
Every condominium association has its own rule governing cats, dogs, giraffes, and other miscellaneous pets. The general rule of thumb is as follows:

1) Low Rise and/or Brownstone Style condominiums

Almost ALL of these small associations allow dogs and cats. I dunno’ about giraffes. Rarely are size, or breed restrictions in place. Such is the case at The Clinton Condominiums at 11th and Clinton Streets. No elevator, and limited common space generally mean more relaxed pet policies. However, there may be a nuisance clause inserted into the condo docs, should your pet be continually yappy, or be prone to bite others.

2) High Rise Condos

All Pre-War buildings on Rittenhouse Square allow dogs and cats. Breed restriction or weight limits may apply. It has been my experience that smaller high rise (and high-end) buildings with limited number of occupants do allow pets- Like 1900 Rittenhouse Square.  High rise condo buildings with large populations (Academy House)  generally will not allow dogs. The Philadelphian, at 2401 Pennsylvania Ave. goes as far as to prohibit dogs and cats. I understand not wanting some wreckless 19 year old kid with his mean dog in an elevator with my 94 year old grandmother.

Large condo associations looking to rethink their restrictive pet policies can implement size and breed restrictions to keep disruptions and the “fear factor” out of the common areas of any given association. This idea will probably gain in popularity as associations look for ways to attract, instead of repel potential buyers. In my 20 year real estate career here in Center City, the buying public is about 50 times more likely to purchase a condo with a relaxed pet policy, than in spite of one. Most buyers will give up their first choice of condo buildings, before they will give up their beloved dog or cat. I wouldn’t dream of giving away my dog to live in any specific building here in Center City. Would you?     

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

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March 2, 2009

Large Center City Condo Buildings

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 2:55 pm

Because I have nothing better to do in my life than to find out and report on everything that has to do with condominiums in Center City Philadelphia :-), I thought I would post the following facts about some of the large buildings here in town:
 
The Murano: Located at 21St and Market Streets, this new gorgeous high rise has 302 units. And killer views! Floor to ceiling windows don’t hurt either!

The Dorchester: At 224 W. Rittenhouse Sq., this large condo building has a rooftop pool, garage rental parking, and a whopping 526 units!

2601: On the corner of 26th and Pennsylvania Ave. is this very large 550 unit building with some really cool rooftop penthouse units with large patios!


 
The Academy House: Locust and 15th Streets, this super large condo building has a ton of amenities, and a total of 576 units.

Society Hill Towers: Comprised of 3 tall high rise buildings, with garage parking and a cool outdoor pool has a total of 670 units


 
The Philadelphian: The Grand-Daddy of all Pennsylvania condo buildings with a whopping 676 units, and 306 rental garage spots!! Wow!


 
IS BIGGER BETTER? Give me a call at 215.521.1523 or drop me an email at Mark@CenterCity.com, and let’s chat!

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

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Philadelphia, PA 19106
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