Philly Market To Break $1K-Per-Square Footage Barrier


Photo: The Inquirer

Photo: The Inquirer

  • The Inquirer reports that David Marshall, the original developer of the Rittenhouse Hotel and Condominiums, is selling off the entirety of his holdings on the 19th floor (hitherto his office space) as three condo units at $1,000-$1,100 per square feet—a novel figure for the Philly market.Twelve years after first considering the sale, Marshall says the time is finally right. “With 9- to 12-foot ceilings, views of the park from the east-facing side, and views of West Philadelphia landmarks such as Boathouse Row from the opposite side,” the units are expected to fetch upwards of $9 million for the 8,800 square feet of space. Local firm SgRA was contracted to design the floor plans.
  • Apparently four state representatives are not too keen with pop-up beer gardens, such as the Horticultural Society’s latest Caribbean inspired offering on South Street. These beer gardens utilize consecutive catering permits to operate for weeks on end, says the Daily News; “that’s certainly not what we intended,” says John Taylor (R-Philadelphia). They’re threatening to amend the relevant laws if the Liquor Control Board does not live up to their spirit— as they see it.
About the author

Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.

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1 Comment

  1. Your interpretation of the Rittenhouse article is incorrect and your headline/commentary are misleading. Many properties have sold above $1k/sf in Philadelphia…1706, 10 Rittenhouse and I maybe a few units in the Barclay and 1820. This article is referring to a record at the Rittenhouse Hotel/Condo….not the city. And it’s just listed at that price….no record is broken until sold.

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