Philadelphia’s Two Liberty Place Breaks City Record with Highest-Priced Condo Per Sq. Ft.
- Sep 02, 2008
By Erika Schnitzer, Associate EditorPhiladelphia–The Residences at Two Liberty Place, a 90-unit luxury condominium which is the second-tallest building in Philadelphia, the tallest residential building in the city and the first time residents can live higher than William Penn’s hat, the landmark on top of City Hall, has broken more city records. Now, The Residences at Two Liberty Place have garnered Philadelphia’s highest price per sq. ft. for multifamily real estate. Richie Sambora, lead guitarist for the rock group Bon Jovi, broke through this price ceiling when he purchased a condo for $3.58 million, at $1,377 per sq. ft. Additionally, sales figures have broken city records, with two homes purchased for $8 million each.“These are the highest-priced condominiums in the region, in the history of Philadelphia,” Baron Bond, director of commercial development for the Falcone Group, the developer for the project, tells MHN. “It’s about scarcity. There’s a community of very affluent sophisticated purchasers in the region, and internationally, who see Two Liberty Place as a limited edition opportunity,” due to the number of residences available, Bond explains. “They are seen as something to be collected.”In addition, the two $8 million condos have the highest residential balconies in the mid-Atlantic region, located 620 ft. above the city. The balconies also provide 2,100 sq. ft. of outdoor living space.Residences at Two Liberty Place range from 1,150 to 12,000 sq. ft. and include fresh air ionization filtering systems, Snaidero kitchen cabinets, and Sub-Zero refrigerators and wine coolers. “Each home enjoys amenities adopted from the finest hotels in the world,” Bond says.The 37th floor of the 57-story tower features an Owner’s Club, as well as an 11,000-sq.-ft. restaurant. The Club includes a fitness center with saunas, massage areas and steam rooms; Pilates and yoga center; spa treatment rooms; indoor pool; pet spa and grooming center; and a refrigerated cold storage to accept owners’ groceries. Residents will also have access to housekeeping, botanical service, catering, pet-sitting services and River-to-River Mercedes-Benz Car Service. They will also have the opportunity for personalized interviews with the concierge to determine the services and amenities best suited for their lifestyles.Two Liberty Place is located in Center City, Philadelphia’s cultural and financial district. There’s an urban renaissance taking place downtown, and many buyers want to have a presence in the heart of it, notes Bond, explaining that vertical living is expanding in Philadelphia. ‘It ‘s the same demographic phenomenon taking place across the country, especially Boomers downsizing from 5,000-sq-ft. homes who want to live in a place with more vibrancy and character and who want to walk to everything without getting into their cars.”