Rough times at 10 Rittenhouse
The 33-story, 135-unit luxury high-rise condominium at 130 S. 18th St may be headed towards another Murano-style auction. The units are priced from $600K to $15 M, includes retail and restaurant space. The two-year behind schedule launch of the building in November due to the litigation over preservation and zoning issues along with only a three dozen units sold has prompted the pension fund to take control of the project and its investment of $57 million stake (including late charges and accrued interest owed by the developer, ARCWheeler L.L.C.) in the luxury building.