On the Market for Over a Million: Residences at Two Liberty Place

With the Carl Dranoff team looking to work its luxury home selling magic on the Residences at Two Liberty Place–as they had once done for 10 Rittenhouse–we’re guessing it won’t be long before the 73 units at Two Liberty are plucked off the market. Just this past weekend, two of them were listed for over a million bucks.
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Will the Carl Dranoff Touch Help Sell These Luxe Condos at Two Liberty Place?

Last we wrote about developer Carl Dranoff, his proposed One Ardmore Place in Lower Merion had taken hit from local business owners who recently filed a lawsuit against the township for wrongfully permitting Dranoff to do what he will with Haws Terrace, a road directly behind his planned project.

Now, Dranoff is making headlines in Philly (but for less headache-inducing reasons).

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Buy or Rent in Two Liberty Place? It’s a Matter of a Couple of Million and Some Square Feet

Living room interior of Unit #4508 at Two Liberty Place

Living room interior of Unit #4508 at Two Liberty Place

Two sides of the same coin? Maybe not. Both these residences at Two Liberty Place share the gym (or pet spa) in one of the swankiest skyscrapers in Center City, but each offers distinct conveniences to occupants looking for something specific. The most noteworthy difference? For starters, one is for sale, the other for rent.

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A Chunk of Two Liberty Place Is Being Sold As Liberty Tower Hotel

iStar Financial owns a whole buncha units in Two Liberty Place that were going to be sold as condos, with prospective owners joining Two Liberty owners like Chase Lenfest, Stephen Thorne, Tom Knox and probably a Sixer or a Phillie or a Flyer or two. But it is not to be. Instead, iStar is selling the space for a hotel through Jones Lang LaSalle.

Here’s what we know from the marketing brochure of the space (which you’re also free to read at the bottom of the page):

Name: Liberty Tower Hotel
Floors: 48-56
Units: 140-150
Competitive advantage: Higher than any other hotel in the city
The building’s current office space: 99% leased to major tenants including but not limited to CIGNA, which occupies 450,000 square feet

The brochure mentions the proximity to the Barnes Foundation three times, the Convention Center twice, City Hall once and SEPTA’s City Hall station zero times. It also notes the presence of the Westin, which recently sold for a record $500,000 per room; the 150,000-square-foot Shops at Liberty Place; and the Residences at Two Liberty, whose sales have been averaging in excess of $800 per square foot.

The always scoop-y Natalie Kostelni of the Philadelphia Business Journal broke the story, which she’ll be fleshing out tomorrow in the newspaper’s cover story. Here’s what that means: People will have to purchase a print edition of a publication. PRINT. Remember that? Stop reading this blog and get your hands inky!

Two Liberty E-Teaser_220116

Two Liberty E-Teaser_26 copy

- Liberty Tower Hotel Listing

- Part of skyscraper to be sold, converted to hotel: Exclusive [Business Journal]