First came the boom. Then, the bust. These days, Philly’s all about the fire sale. “When the bubble burst,” says Center City real estate expert Mickey Pascarella, “demand for new-construction condos dropped. Smart developers are offering significant discounts off original pricing and sexy financing terms in order to unload inventory.” Just check out these deals.
Condos:
The Aria — 1425 Locust Street
- The Hook: For those who like some posh with their convenience.
- Original Price: 2 bed/2 bath: $990,000
- Price Now: $775, 000
- Drop: 22%
The Murano — 2101 Market Street
- The Hook: For hip buyers who want to be in the center of it all.
- Original Price: 2 bed/ 2 bath: 925, 000
- Price Now: $739, 000
- Drop: 20%
Symphony House — 440 South Broad Street
- The Hook: For traditional buyers who respect culture.
- Original Price: 2 bed/ 2 bath: $1, 010, 000
- Price Now: $820, 000
- Drop: 19%
The Essex — 300 North 3rd Street
- The Hook: For the move-up buyer who values luxury.
- Original Price: 2 bed/ 2.5 bath/ den: $1, 095, 000
- Price Now: $599, 000
- Drop: 45%
Originally published in Philadelphia Magazine, January 2010


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