What $20,000 a Month Rent Will Get You in Philadelphia
A look at the poshest - and priciest - rental apartment on the market.
Looking for “Billionaire’s Row”-style luxury but don’t want to move to Gladwyne or care for a lawn?
You can have it right on the Avenue of the Arts for a mere $19,995 per month, no mortgage or long-term commitment required. What’s more, someone else will take care of the maintenance for you.
To get it, all you need to do is sign a lease for this last remaining penthouse unit in The Atlantic, Post Brothers’ ultra-luxe, eco- and family-friendly apartment building at Broad and Spruce streets.
Like the other apartments in this building, this bi-level apartment was designed by award-winning starchitect Rafael Viñoly, designer of the Kimmel Center for the Performing Arts across Spruce
It comes with all the amenities the building offers residents of its smaller apartments (you can read about many of them here). On top of all that, however, you get a far more spacious apartment with even classier features, including access to a studio apartment you can use to put up out-of-town guests, an au pair, or a personal chef. as one tenant already has done.
You also get priority elevator access, including a private-ride feature, your own private outdoor terrace, and even snazzier fixtures and finishes than are found in the regular units.
Those include kitchens with Calacatta Gold marble quartz waterfall countertops and even more luxe Bertazzoni appliances, including kid-safe induction cooktops that heat liquids almost instantly, are cool to the touch when their burners are not in use and can be paused if you need to tend to something away from the stove.
They also include spa bathrooms with sophisticated steam showers, extra-large soaking tubs, Toto toilets and instant hot water that never runs out.
This unit also has the same sophisticated, environmentally conscious, virtually sound-free climate control systems the other units have.
And another building amenity is on the way: Room service, courtesy the Steak 48 steakhouse set to open on the Broad Street side of the building’s street floor later this year.
A new kind of rental for a new market
This fully-loaded, ballin’-out apartment is not only the most luxurious rental apartment this city has yet seen, it’s also the priciest. And it’s one of four such units found on top of The Atlantic.
The other three have already been leased, one before the building even opened.
John Bolaris, one of the two agents marketing this apartment with Keller Williams Black Label/Rent Philly, says that’s a sign that the city has now developed a class of tenants who want, and are willing to pay for, the kind of super-posh, maintenance-free lifestyle heretofore found only in Manhattan.
“Overall, there’s been a boom in the city for housing for CEOs, C-suite executives, athletes and celebrities” who fly under the radar, he says.
“And then you have the Main Liners coming back into the city after their kids have moved away. They’re used to their 10,000- to 15,000-square foot mansion, and then they see these 2,000-square-foot apartments, and they’re like, ‘Are you kidding?’ Their idea of ‘downsizing’ is bigger than that, and they’re also driving demand for bigger apartments in the city.”
The relative scarcity of such rentals also helps explain these apartments’ hefty rents.
That the developers have filled them so quickly is proof that Post Brothers made the right choice in turning The Atlantic into a rental building. “They were originally going to build this project as 99 super-luxury condos,” he says, “but they decided to go with the luxury rentals because they made more sense.”
If all this sounds like the kind of lifestyle you’ve dreamed of living, but didn’t want to move to Manhattan to enjoy, you might want to contact the agents right away before another tenant does. You can either email either Bolaris or Keller Williams Black Label/Rent Philly Managing Partner Andrea Desy Edrei, or you can call them at 215-692-6636.
The Atlantic Penthouse by the Numbers
Address: 1401 Spruce St., Philadelphia, Pa. 19103
Unit specs: 4 bedrooms, 3 full, 1 half bathrooms, 5,200 square feet on two levels plus private terrace
Parking: None included
Pet policy: Pets welcome; contact agent for details on pet policy. The building has a dog spa on its “garden level” amenity floor and a dog run on its rooftop community terrace.
Monthly rent: $19,995