500 Walnut Sets New Bar for Luxury Philadelphia Living
They’ve been talked about for years now – including the rumor that Jay-Z and Beyonce were buying the penthouse – but the luxury condo units at 500 Walnut are nearing completion. Final work is being wrapped up on the building, and residents will be able to move in this summer.
An artist’s rendering of the terrace at 500 Walnut gives the viewer a taste of the luxury that the building has to offer.
Developer Tom Scannapieco is making a name for himself as Philadelphia’s go-to guy for top of the line living. He can brag that he has created the highest-selling condo in the City of Brotherly Love not once, but twice. Back in 2010, Scannapieco sold the penthouse at 1706 Rittenhouse Square for $12,500,000, or $1,613 per square foot. The residences at 500 Walnut are selling for between $1,000 – $2,000 per square foot, making them the city’s priciest. And the piece de resistance? The two-story penthouse at 500 Walnut sold last June for a cool $17.85 million to an anonymous buyer, with Scannapieco breaking his own record.
The building will have 35 residences, each customized down to the last detail to suit the owner’s needs and wants. To quote Philadelphia Style: “Want to overlook Independence Hall while wading around your Porcelanosa soaking tub? All you’ll have to do is decide which way the tub should face.” Each unit features a distinct floor plan. In addition to the two-story grand penthouse, there will be a second penthouse that is “just” one story, priced at around $14 million.
Of course, such a chic luxury building is bound to come packed with amenities. 500 Walnut’s perks were dreamed up in part by residents at 1706 Rittenhouse, who were asked for their input. Consequently, the new building has a spacious guest suite, a fully-stocked library, a luxe billiards room, and an outdoor terrace for yoga. Each condo has a private balcony perfect for entertaining, but the whole building is topped off with a fourth-floor main terrace overlooking Independence Park and featuring greenery, a gazebo, and a fireplace.
