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Mid-Town Philly Luxury Condo Update

Both Two Liberty and The Ritz-Carlton Residences struggled during the chaos in Center City last year. Mid-town Philly luxury is now recovering following trends in the luxury Rittenhouse Square neighborhood. Nationwide, Condos are Seeing a Spike in interest as reflected in Center City recent sales trends.

Mid-Town Philly Condos are now at just under 6 months of inventory and Rittenhouse Square has made a dramatic shift to a sellers market with 5 months of inventory as of end of July 2021. Both reflect a shift towards a sellers market.

Today we’re focusing on emerging trends and opportunities in Mid-Town Philly where luxury condos offer views, amenities and a lifestyle that is our local version of Billionaires Row in Manhattan, specifically at The Ritz-Carlton Residences and Two Liberty Place.

The Ritz-Carlton Residences

Check out this Penthouse listing at The Ritz-Carlton Residences with 10,000 sf for $12M.

For fun, join me a raw space Ritz-Carlton Penthouse tour from 2018:

Two Liberty Place

My favorite luxury value at Two Liberty in Mid-Town Philly is now under contract! Unit 4504, 2 bd / 2 ba with 1,125 sf was listed for $780K and now is pending, scheduled to close Nov 4th.

Best current value:

There remains an opportunity for high-rise luxury living at a great value! Recently reduced to $650K, Unit 4003 offers 2 bd / 2 ba with 1,200 sq ft and 40th floor views.

Recently under contract;

  • Unit 5401 – 3 bedroom / 4.5 baths, 2,662 sq ft, listed for $2.2M, on the market 97 days, under contract July 27th, last contingency clears August 30th.
  • Unit 5101 – 3 bedroom / 3.5 baths, 1,785 sq ft for $1.3M, on the market 54 days, last contingency ends Sept 10th.

The Packard Grande

More modestly priced but also increasing in buyer demand, The Packard Grande is literally around the corner from The Ritz-Carlton Residences and across the street from the newly opened the W Philadelphia and element hotels on Chestnut Street. Pet friendly, historic art deco building is well managed and offers an amazing roof-top deck and generous community space. While conventional loans won’t apply due to the commercial space as part of the development, there are lending options.

Unit 2002 recently listed for $409K is my personal fave! A corner unit with gorgeous views and abundant sunlight. The 2 bedroom floor plan flows well. In fact check out my recent open house visit for a walk through:

For more buyer previews and market updates, be sure to subscribe to my blog and YouTube, and hit the 👍🏼 buttons to follow me on Facebook and IG as well.

Feel free to book a time to chat, and let’s go over more market details and review how they may impact your plans.

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Susanna Kunkel

Susanna Kunkel brings her skills from a career in the executive offices of major corporations to her real estate business - treating each client like a VIP. With 18 years of experience as a real estate advisor, you can be confident in knowledgeable, personalized, confidential service. Hear what her clients say -

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