My Top 10 Condo Bldgs for 2015 /   Highest $$ Condo Sales By Zip  /
Tossing Up Red Flags Faster Than I Can Down A Martini

For those of you who are new to these parts, this is my somewhat snarky  
bi-monthly newsletter. The content is serious-
the tone...not so much. Welcome.
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Mark Wade

2014 Condo Fun Facts:

57 Condos in Town Sold for Over $1m in 2014

The Most Expensive was $5,975,000

Top Two Buildings With Sales Over $1M-
The Ritz Carlton and 10 Rittenhouse

Top Sale Prices Per Zip Code-
19102- The Ritz Carlton
19103 - 10 Rittenhouse
19106- The Ayer
19107- The Western Union
19146- The Symphony House
19123- Lofts at 1234 Hamilton St.

All Time Record Sale For A Center City Condo-
1706 Rittenhouse

Top 10 Condo Buildings 2015

In terms of value retention, resale ability and livability...
Here are my top ten picks for 2015:

1) 1706 Rittenhouse at 1706 Rittenhouse St. - - There can be little doubt that the building shines in terms of value growth and demand. The highest of high end here in Center City. Buyers line up for these units- Who wouldn't want to live at 1706 ??

2) Kahn Park Place at 1119-25 Pine St.- Parking, roof decks and nice interior prices that I think are undervalued. Homerun! Location is key here as well. Interior condition drives the wide range of values here.

3) Washington Square West Condos on the 12xx Block of South St. - Solid investments in a high growth area. Oh, and all have parking and two bedrooms! You can't beat these simple yet value driven condos. Boom!

4) St. James Court in Society Hill - 40 years old condos with interiors that clearly stand the test of time. Undervalued and best deals in the 19106 zip code. Most units are off street and quiet. Interior courtyard is picture perfect. You can't beat the prices in this segment in my opinion.

5) The Coronado at  2201 Chestnut St.- Improvements to the building make the investment here a solid one in terms of value growth. And in the 19103 zip code to boot.

6) The Lenox at 250 S. 13th St.- Not unlike 2201 Chestnut Street in the fact that it is a pre-war styled condo building that has undergone many recent upgrades and improvements. Since the Parker across the street closed- are values poised for a significant bounce upwards? Probably.

7) Center City One at 1326 Spruce St. - If I had millions of dollars, I would probably spend most of them inside this building if I wanted to make money.
Try to beat the location and the floor plan of the two bed, two bath units.
No supply here.

8) The Philadelphian at 2401 Pennsylvania Ave. - Values for the larger units bounced higher and faster than any other segment in Center City. Many reasons which can be attributed to the association...and lack of supply didn't hurt either.

9) Low Rise Condos in 19103 and 19107-  Perpetual demand leads to a shortened "days on market" for many in this segment. Solid purchases and solid returns. And those near Jefferson and U of Penn have a double good whammy- which is huge rentability.

10) 2200 Arch St. Condos at 2200 Arch St. - Probably the quickest sales in the loft like segment here in town. Parking, close to jogging trail and in the 19103 zip code. This place is firing on all cylinders.

Honorable Mention:

The Reef Building at WaterFront Square 901 N. Penn St. - Just about 6 units remain and the values are climbing faster than most other buildings around town. Expect another bump in values when the building completely sells out. Philadelphian's are warming to the idea of living in this lovely gated community. Though I am biased...We own and live here.

Tossing Up Red Flags Faster Than I Can
Down A Martini

Being on the inside track of the Center City condo market, I am at the epicenter of buyer feedback and I am privy to their thoughts and I see what buyers consider to be red flags. Here is what they are telling me. This list could also be called                        " Things My Condo Buyers Quickly Reject:"

1) A condo with a  two-story spiral staircase
2) Poorly kept common areas of low rise condo buildings
3) Low owner occupancy ratios in any size condo association
4) Lawsuits against the association
5) An unusually high "days on market" for units within the building
6) A clear lack of upkeep and maintenance for any size building. Buyers are usually acutely aware of the lack of upkeep and have little trouble identifying such buildings.

Certainly there are a plethora of reasons why a buyer will buy or reject any given condo here in town. The above list of six examples are the most common that I see.

25 Years of happily schlepping buyers around town to find their perfect condo. And a boatload of parking tickets to prove it :-)


Mark Wade 
Berkshire Hathaway Home Services 
Fox & Roach

530 Walnut St. Suite 260
Philadelphia, Pa. 19106


I think the 2015 Condo Market is going to be 
a giant sh*t storm for buyers. There just isn't much to choose from...


 I would like very much to be your condo Realtor.

Mark 267.237.3404

Remember, best time to call is in the AM
When I am jacked up on 4 cups of Maxwell House.

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