[thisisforreal]

3601 is slightly higher in amenities, higher in price, and (IMHO) in a lesser location at the moment - 36th and Market is dead @ 5pm. I think the first teaser was listing studios starting at $1700 and advertising quartz counter tops, etc. I balked then, and I balk a little less now but certainly still balk.

If this building was placed right in the heart of center city, those rents make sense because owning a similar sized unit with the same amenities a short distance away (eg condo in a subdivided home in Fitler Square) will drop your price ~ 25%, but at 36th and Market a short distance away (eg condo in a subdivided home in Powelton Village) would drop your price ~ 50+%. Or, the way I usually pitch it, for the same price you can have 6x the space just a few blocks away.

I've been accused of being off topic for this before as its not construction related, and owning and renting are very different, etc, and I get all that. This parcel is interesting to me, though, cause it's dense development situated at the very very edge of the market.