Jun 22, 2022 - Real Estate

New luxury condos open in Arthaus tower on South Broad Street

A rendering of the new high-rise residential building Arthaus.
A rendering of the new high-rise residential building Arthaus. Rendering courtesy of Dranoff Properties

Meet the latest addition to the Philadelphia skyline: Arthaus.

What's happening: The 47-story residential building — made up of 107 condos and three penthouses — is now open after more than three years of construction.

  • Property owners will begin moving in Wednesday.

State of play: The sleek glass-and-concrete tower located across from the Kimmel Center brings 400,000 square feet of new condominiums and ground-floor retail and dining to the Avenue of the Arts.

  • Philly developer Carl Dranoff initially proposed a condo-hotel hybrid for the site about a decade ago, before scrapping the plan for an all-residential building in 2018.
The pool at Arthaus
The pool located inside Arthaus. Rendering courtesy of Dranoff Properties

Between the lines: Dranoff told Axios that several floors have already been sold, although he declined to disclose exact sales figures.

By the numbers: The $253 million Arthaus project's condos range in size from approximately 1,600-5,550 square feet, according to the developer.

  • All units have balconies, 10-foot ceilings, walk-in closets, built-in shelving, and floor-to-ceiling windows, among other features.
  • Price tag: $2-$15 million.
A kitchen and eating area inside a condo at Arthaus
A kitchen and eating area inside a condo at Arthaus. Rendering courtesy of Dranoff Properties

Zoom in: Two of the penthouses take up one floor each, ranging in price from $7 million to $8 million.

  • The third penthouse is bi-level, making up the 43rd and 44th floors, and includes an elevator, fireplace, butler's pantry closet, and more, for a price of $15 million.

Building amenities include: A rooftop glass greenhouse along with gardening beds.

  • 75-foot indoor pool with hot tub.
  • Saunas and steam rooms.
  • 36,000 square feet of indoor and outdoor shared space.
  • Valet-attended residential parking.

What they're saying: Dranoff said Arthaus will reset expectations for residential properties at the top of the market in Philadelphia.

  • "It's attracting new residents to our City who will expand the tax base and support local businesses, and arts institutions," he said.
A master bathroom located inside Arthaus
A bathroom in a condo inside Arthaus. Rendering courtesy of Dranoff Properties
An outdoor greenhouse and terrace at Arthaus
An outdoor terrace at Arthaus. Rendering courtesy of Dranoff Properties
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