A Great Value which could be improved! With 182 individual condominium units, and 86 deeded parking spots,
Center City One Condominiums have a great reputation for being a solid
Philadelphia real estate buy. A mix of studio, one and two bedroom
units, Center City One condos offer either a wonderful city views to the
north, or south facing sun-drenched views. These
Washington Square West
condos are located in the 19107 zip code, and all units at Center
City One are flats- no loft condo units at 1326 Spruce exist. Near the
center of Philadelphia, these condos at Broad and Spruce Streets have
great viewsÉeither offering nice city views, or wonderfully bright
southern views. We find many Philly real estate buyers delighted with
what they can buy for their money at Center City One. Although a stable
building in terms of resale and location, the building could easily pull
higher sale prices with minimal effort.
As a veteran Philly real estate agent who specializes in condo sales, I hear a lot of feedback from buyers whom I shuttle around town in my car. Most buyers will comment on the lack of emotional appeal to the exterior of the building, followed by the worn hallways on every floor. And although the lobby and elevators are attractive, a somewhat unfavorable impression is made by prospective buyers, prior to even seeing the interior of any condo that may be for sale at 1326 Spruce St. I often counter with the fact that the building has a strong on- site management team, an active condo association, and of course liberal pet policies, parking, and proximity to Avenue of the Arts. My ability to lessen the lack of initial emotional appeal usually falls on deaf ears.
If I were the king of Center City One, the first thing I would do is to power wash the concrete exterior which has collected its fair share of city soot and dirt over the years. In addition, the wood balcony partitions on the outside of the building appear faded and a bit weathered. Step two would involve a special assessment to immediately refinish all common hallway areas. The carpet currently appears to be worn, and faded, is what I will hear from most potential buyers. The hallways dimly lit with brass fixtures from perhaps the 1980's, and fingerprint-proof wallpaper that screams "dated" are going to figure prominently into the associations ability to update the building in order to raise the value of the existing units in this 30 story building.
The death knell of values in existing Philadelphia condos is a dated, worn cosmetic look. Center City One excels in location, views, amenities, closet space, balconies, and unit layout. I would suggest that if the association spends for interior and exterior cosmetic work, that values of the condos at 1326 Spruce St. would rise appreciably.
During the late 1980s, Mark fell in love with the Philadelphia real estate market. The first condo he
bought for himself was in Old City. Working with bank foreclosures on multi-unit buildings, Mark began
to carve his niche as a condominium specialist. Since that time, Mark has progressed into helping
developers turn apartment buildings into condominium buildings.
Having been inside countless condos in the Center City real estate area, Mark is intimately familiar with the available properties. Mark prides himself and impresses others of his vast knowledge of what's trendy and knows which finishes buyers look for when selecting a home.... so much so that he's been seen on HGTV's What You Get For The Money, CN-8's Money Matters and was the 2005 winner of Philadelphia Magazine's Kitchen of the Year contest.
Center City Philadelphia Condos
The Experts In Philadelphia Real Estate -- 215.521.1523