Philadelphia – An Upscale Real Estate Market

Check out this Wall Street Journal article Philly Shows Love for Upscale Homes that highlights Philadelphia as an upscale Real Estate market.  It notes the $12.5 million sale at 1706 Rittenhouse that set a record for Philadelphia residential deals.  As a result of this sale, the Rittenhouse Square area has become more and more glamorous according to the article.

Indeed, on a recent afternoon, 1706 Rittenhouse was a picture of luxury. The doorman helped a resident wheel his things into the elevator; the bottom of the cart balanced a fur coat. The parking garage allows residents to park on a platform and exit the car. Vehicles are then automatically slid onto a shelf-like system and automatically parked; it’s a “parking system the Jetson’s would love,” according to a recent headline in the Philadelphia Business Journal.

“What used to be the American dream home in the suburbs,” says developer Tom Scannapieco, “is now a high-end condo in the city.”  –Wall Street Journal

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