Hoping for a repeat of the experience at 10 Rittenhouse Square, iStar Financial has handed the remaining 73 condominiums at the Residences at Two Liberty Place to developer Carl Dranoff to market and sell. <\/p>\n
Sales of those units, on the 42d through 57th floors of the Center City skyscraper, were to have begun Wednesday after a brokers' open house that drew more than 150 area agents, but the first contract was signed Tuesday. <\/p>\n
The number of brokers at the open house attested to the market's high demand for luxury condos and the dearth of supply. <\/p>\n
Doug Pearson, owner and chairman of Kurfiss Sotheby's International Realty, in New Hope, said Two Liberty should \"do very well, especially because they're doing it at the right time, with such a shortage of inventory.\" <\/p>\n
\"There's nothing new until [Dranoff's] 1 Riverside comes on line,\" Pascarella said. <\/p>\n
The 58-story, 1.2 million-square-foot Two Liberty Place at 50 S. 16th St. was completed in 1990 as a primarily commercial building. The Residences at Two Liberty were carved from the upper floors in 2005 by American Capital Partners and the Falcone Group. <\/p>\n
In 2012, iStar took title to the unsold units and raw space, and once considered turning those floors into a boutique hotel, industry sources said. <\/p>\n
The median price for the remaining Two Liberty condos should be in the $750-per-square-foot range, Dranoff said. <\/p>\n
Istar will fund refurbishment of the Residences at Two Liberty lobby and creation of an amenities floor on the 37th level. <\/p>\n
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Dranoff to market, sell Residences at Two Liberty Place<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Hoping for a repeat of the experience at 10 Rittenhouse Square, iStar Financial has handed the remaining 73 condominiums at the Residences at Two Liberty Place to developer Carl Dranoff to market and sell. Sales of those units, on the 42d through 57th floors of the Center City skyscraper, were to have begun Wednesday after a brokers' open house that drew more than 150 area agents, but the first contract was signed Tuesday. The number of brokers at the open house attested to the market's high demand for luxury condos and the dearth of supply Continue reading