Sneak peek inside new luxury condos!

RITTENHOUSE SQUARE – November 9, 2009

One 15th floor unit is a 3700 square foot condo with 3 bedrooms and 3 and a half baths with a price tag of $2.9 million.

"This here is the finest building in the city of Philadelphia in the best location this does not lose its value I am prejudiced because I know what we have here," said Robert Ambrosi, 10 Rittenhouse developer.

The building was designed by New York City architect Robert A.M. Stern and has 135 studio one, two and three bedroom residences ranging in price from the $300,000+ to $12 million for a penthouse and it boasts beautiful views.

"We are holding back some of the penthouses for release in the future but we're about 50-percent sold in that area."

Segments of Philadelphia's condo market are soft but industry analysts say the highest end units are selling as more well-heeled suburbanites move in.

Not far from 10 Rittenhouse is the exclusive 1706 Rittenhouse, now under construction with units starting at $4 million. The $12 million penthouse is sold.

"It is a bright spot for Philadelphia that people are willing to spend this kind of money and move in to Philadelphia today," said Tom Scannapieco, the developer for 1706.

1706 Rittenhouse, like number 10 Rittenhouse, were delayed getting started because of neighborhood legal challenges.

Ambrosi says number 10 should have been finished two years ago but that's history.

Ambrosi doesn't call the units condos, he calls them homes. Residents are beginning to move in this month, 9 years after the project was first conceived.

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