Last July, I wrote about an episode of HGTV’s House Hunters that featured Bill and Antonio, who were looking for a house in downtown Philly “on a whim.” Their budget was $2 million, and hunting took them to the Rittenhouse Grande at 19th and Spruce and the Residences at the Ritz-Carlton on Broad and Walnut. The couple ended up buying a three-bedroom, three-and-a-half-bath, corner unit at the Ritz — in the rear, facing the W Hotel parking lot — for $1.535 million. Nice going with the budget, gentlemen!
The unit features customized Jeld Wen closet doors, electronic window blinds and custom window treatments, two walk-in closets, and one-car parking — along with being in the Ritz and so offering everything the Ritz has to offer, which is a lot.
Bill and Antonio (and their adorable dog) spend much of their time in New York, so perhaps a Philadelphia pied a terre isn't practical. Nor is it a remarkable real estate investment, as it turns out. They put the unit on the market in September 2012 for $1.749 million, which would have been a tidy profit. But they needed to reduce the ask four times before it finally sold last week for 1.35 million.