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TOM GRALISH / Staff Photographer
A guest at yesterday's opening takes in the view at 10 Rittenhouse Square.
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Owner and others get peek at 10 Rittenhouse Square high-rise

Anne Scardino waited slightly more than three years for the chance to ooh and aah at the building she'll call home in mid-January.

That chance came yesterday, as she and scores of others, mostly dignitaries and developers, got the grand tour of 10 Rittenhouse Square, the long-delayed 33-story, 135-unit condo high-rise at 18th and Walnut Streets.

Scardino, founder and owner of the consulting firm Belle Maison Design, signed a sales agreement for her 12th-floor condo in October 2006.

The wait continued as developer ARCWheeler waded through court battles over the fate of the four three-story buildings at the site and other legal issues, which added $100 million to the project's $300 million final cost.

"It was worth it," she said, admiring the Italian marble floors and the Venetian-plaster finish of the walls as she walked from the Rittenhouse Club entrance on the square to the elevators at the building's South 18th Street side.

Construction of the high-rise, designed by Robert A.M. Stern, was to have started in April 2005 and wrapped up by summer 2007, "but appeals set us back two years," said managing principal Hal Wheeler.

"I would have preferred that economy," Wheeler said, "but our buyers stuck with us. In a bad economy, good things can happen, and this building is an example of it."

Robert Ambrosi, managing principal at ARCWheeler, said there were sales accords on 50 percent of the units, with the "luxury" studios and one-bedrooms on floors one through 10 - starting at $600,000 - selling well.

The "estates" on floors 11 to 25, two- and three-bedrooms ranging from $795,000 to $4.5 million, are selling more slowly "because of [buyers'] difficulties selling houses in the suburbs," he said. Buyers of penthouse floors 26 to 33 - prices on request - "don't need to sell a home."

For Ambrosi, 10 Rittenhouse is all about details. "We were trying to create the ambience of a pre-World War II Park Avenue building in Philadelphia," he said.

Robert and Ellen Seltzer, also among the earliest buyers, hope to have their customized three-bedroom 16th-floor unit ready by spring.

"This is exactly what we wanted," said Robert Seltzer, an insurance executive.

Their current home, in the 1900 block of Delancey Street, is listed for about $2 million.

"I asked Mayor Nutter if he could help us sell it," Ellen Seltzer said. (The mayor helped at the ribbon-cutting.) "He said he would if he could."

 


Contact real estate writer Alan J. Heavens at 215-854-2472 or aheavens@phillynews.com.

 

Comments   
Posted 08:28 AM, 11/11/2009
John Scanlon
Rittenhouse square is so nice, and such an established neighborhood. I sure hope Mayor Nutter and Philadelphia citizens do not have to wait ten years before owners at this condo start paying real estate taxes.
Posted 08:47 AM, 11/11/2009
longshanks
Another large over priced condo building that will sit mostly empty for the next several years.
Posted 08:53 AM, 11/11/2009
Tartan69
Anything that attracts people to live in the city is a good thing.
Posted 09:22 AM, 11/11/2009
The Pack Leader
Last time I checked, longshanks, Center City is at about 97% capacity. Wanting Philly to be a lousy city with all of your heart, doesn't create that reality. Maybe you should try a new hobby?
Posted 10:08 AM, 11/11/2009
Philatonian
I love the creative use of the name "10 Rittenhouse". The building is really on 18th and Sansom. It did turn out really nice though.
Posted 10:14 AM, 11/11/2009
Jayfar
Minor nit - 10 Rittenhouse was designed not by Robert A M Stern, but by Graham Whyatt, a partner in Stern's firm. Whyatt is also the Architect of Comcast Center.
Posted 10:16 AM, 11/11/2009
Tacklebury
What kind of a "peek" is that? There are two pictures and neither one is worth a darn. This is bush league, Inquirer!!!
Posted 10:27 AM, 11/11/2009
mijou6
A peek at 10 Rittenhouse Square is all we got. Two pix and one of them is of people?
Posted 10:27 AM, 11/11/2009
omgwtf
Love it, but love my beautiful Northern Liberties condo (costing a fraction of the price and almost as nice) even more!
Comment removed.
Posted 10:51 AM, 11/11/2009
phillygtown
More LUXURY CONDOS as the city CRIES BROKE. Just what we need. You HIGH-POST folks just make sure you PAY YOUR TAXES!!!!
Posted 11:04 AM, 11/11/2009
lookfar111
Guess I'm just a "country mouse" but I can't see spending that money only to walk outside everyday and see (and be approached by)all the homeless that I see there all the time. Plus, couple years ago it wasn't far from there that the center city rapist was on his crime spree. Years before that Walnut street, adjacent, was a complete sewer. Also, stand still anywhere in the city for 2 minutes and a piece of trash will go blowing by you. I just don't get the appeal.
Posted 11:10 AM, 11/11/2009
philagirl215
If someone can afford a multi million dollar condo, don't you think they have a high income level? Have you all forgotten that incomes are taxed through the Philly wage tax? Let's also remember that these folks are probably not a burden to the City of Philadelphia like some folks are. WELCOME 10 Rittenhouse Residents and CITY of Philadelphia - please keep the abatement alive!
Posted 11:12 AM, 11/11/2009
WPhillyguy
"Covet not thy neighbor's house!" Am I detecting a little envy and jealousy here?
Posted 12:10 PM, 11/11/2009
CollingswoodResident
This a an excellent project. Hope to see more of these great buildings being built around Center City in the years to come. This is the exactly the types of developments Center City needs more of.
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