Believe the Hype: First Resale at 1706 Rittenhouse Tops $7 Million Mark

Jonathan Papelbon's is poised to be the second.

Jonathan Papelbon's Living Room | Photos: TREND via

Jonathan Papelbon’s Living Room in 1706 Rittenhouse | Photos: TREND via

It looks like those early buyers at 1706 Rittenhouse are starting to see the value in their investment. The first resale of a unit in the luxury building recently closed on May 21 for a whopping $7.14 million, according to Zillow. City records show that unit 1901 was purchased in 2011 for $4.825 million. Yeah, we’d say that’s a pretty good return.

We know what you’re saying, it’s only one sale. Well, remember Jonathan Papelbon’s pad that recently chopped $500,000 off its asking price? There is some news on that front as well.

Listing agent Kelly Pendino Betley of BHHS Fox & Roach tells us that the 15th floor unit is currently pending and the deal is expected to close in late June. The home was most recently listed at $6.4 million and Pendino Betley confirms, “he got close to asking.”

As an FYI, Cliff Lee’s beautiful home on the 20th floor is still up for grabs at $6.9 million. If it’s one thing these recent deals at 1706 Rittenhouse tell us, he just might get it, too.