My Top 5 Picks for Value Increases Over The Next 10 Years
1) 2301 Cherry St– The condos are selling at a pace I haven’t seen in a decade at Rivers Edge. Major assessments are helping and you just can’t find these values in 19103 with parking in a doorman building.
2)1352 South St. Condos– Began a new marketing campaign earlier this year. When that is over and the building sells out- I would look for prices to spike as the current $/sf is very competitive.
3) Low Rise Condos in 19107 – The overall lack of inventory and “DOM” (days on market) for this set shows a trend for potential future growth. One key is proximity to Jefferson Medical.
4) The Rittenhouse Hotel and Condominiums – Recent sales have primarily been original condition units which have artificially set the bar at a low point in terms of resale prices. Once that inventory gets soaked up- Prices are going to jump in the building in my estimation. The competition just isn’t there for such a fine building on the Square.
5) Center City One Condos– 1326 Spruce St. The lines have already started- buyers looking for a two bedroom two bath unit here will compete with each other for the next unit to appear. A new benchmark will be set…that is pretty clear to anyone who has kept their eye on the Center City condo market. I mean…even a blind man knows when the sun is shining 🙂
Oh, and of course 1706 Rittenhouse!