PHILADELPHIA | THE LAUREL @ 1911 Walnut | 604 FT | 48 FLOORS

[TK2001]

Crane jumping, I got some pics already

[TK2001]

The Laurel Rittenhouse Square by Philly SkyGuy, on Flickr

[PHL10]

Once again, I think the façade looks fine - pics from Yimby:


https://phillyyimby.com/2021/04/the-...nter-city.html

[Plokoon11]

It looks like the management lurks on this thread because the Webcam has shifted up.

[summersm343]

The Laurel Rittenhouse Square Rises To The 27th Floor

On the left:


On the left:










On the right:




Read/view more here:
https://phillyyimby.com/2021/04/the-...nter-city.html

[TK2001]

Bonus shot

Arthaus (left) and The Laurel Rittenhouse Square (right) by Philly SkyGuy, on Flickr

The core can be seen from parking garage in Camden!

[Skintreesnail]

Just noticed today that this will look pretty cool from Grays Ferry (taken from triangle in front of Heirloom).

[blart]

4/18

[iheartphilly]

^
I like these photos. It shows the cladding to be more white than yellowish from previous photos. And, the glass doesn't look as dark.

[3rd&Brown]

Originally Posted by iheartphilly

^
I like these photos. It shows the cladding to be more white than yellowish from previous photos. And, the glass doesn't look as dark.

Yes. The cladding is looking better and less dated the further up it goes.

A relief really, but I'll hold my breath.

[arkitect13]

This is gonna have such an impact on the area! This and the 2 others of similar height a block or so away are gonna add so much height to this skyline

[PHL10]

Saturday:

[iheartphilly]

^
Looking good...the size will be a real presence on the Square! Makes the Square feel more cosmopolitan too.

[SouthCentralPA]

Wow, I think the glass looks pretty good. It's a nice contrast from the surrounding buildings.

[3rd&Brown]

Originally Posted by PHL10

Saturday:

This view makes the empty lot in the foreground all the more jarring and out of place.

Over under on when we think that lot will disappear?

If it's owned by Parkway as I think the sign indicates, I would say +/- 3 years.

[Londonee]

Originally Posted by 3rd&Brown

This view makes the empty lot in the foreground all the more jarring and out of place.

Over under on when we think that lot will disappear?

If it's owned by Parkway as I think the sign indicates, I would say +/- 3 years.

I think it's owned by someone else (read, old Philadelphia slumlord) and Parkway manages it like they do with a lot of old Philadelphia slumlord properties/parking lots. They've been around a long time...and someone has to keep sending those checks to the Fort Lauderdale next of kin of those who bought CC properties 40 years ago...

[Jayfar]

Originally Posted by 3rd&Brown

This view makes the empty lot in the foreground all the more jarring and out of place.

Over under on when we think that lot will disappear?

If it's owned by Parkway as I think the sign indicates, I would say +/- 3 years.

Originally Posted by Londonee

I think it's owned by someone else (read, old Philadelphia slumlord) and Parkway manages it like they do with a lot of old Philadelphia slumlord properties/parking lots. They've been around a long time...and someone has to keep sending those checks to the Fort Lauderdale next of kin of those who bought CC properties 40 years ago...

https://atlas.phila.gov/1906%20WALNUT%20ST/property
OPA Account # 885672480
OPA Address 1906-12 WALNUT ST
Owners SINGER DAVID TR, SINGER JACOB TR
Assessed Value $4,239,800
Sale Date 08/18/2009
Sale Price $3

…and the mailing address is Michael Singer's real estate office at 1117 Spruce St.


The 2 properties closest to 20th St, 1910-12 Walnut, were demolished c. 1959 to make way for the parking lot, which then doubled in size by the early or mid-1960s after a 5-alarm fire in December 1961 destroyed a 4-story furniture store at 1908 Walnut and heavily damaged a 4-family apartment building at 1906 Walnut.

https://s3.amazonaws.com/lni-zoning-pdfs/219-374790.pdf

[Londonee]

Originally Posted by Jayfar

https://atlas.phila.gov/1906%20WALNUT%20ST/property
OPA Account # 885672480
OPA Address 1906-12 WALNUT ST
Owners SINGER DAVID TR, SINGER JACOB TR
Assessed Value $4,239,800
Sale Date 08/18/2009
Sale Price $3

…and the mailing address is Michael Singer's real estate office at 1117 Spruce St.

Love it - sold for literally a cup-of-coffee 12 years ago - meaning it was likely passed to next of kin. I also love how a property's assessed value is $4.2mm when the moment it's sold a $300mm building would be built on it.

When you figure they could get something close to $20mm or so for it - its existence really comes into question. I mean, it holds 30 cars - it can't be THAT much of a cash cow - do they use it to launder money or something? There's no possible way keeping a lot with 30 cars, and paying a decent burden in annual taxes is in any way a prudent financial decision - especially during a pandemic when parking lots are empty more often that not.

[City Wide]

It might be a passive investment. If the cost flow can come near to covering the owners hard costs, they might benefit by waiting till some magic point in the future, when X happens.

On empty lots I've wondered if the City could set up a program where if I offered $10M for this lot and it wasn't accepted, the RE taxes would immediately be set based on the $10M figure. The owner wouldn't be forced to sell, but the market could dictate the real world value for the purposes of setting a real world tax rate. The same think could be done with lots that have billboards on them. Theres one big sign right at the western edge of the Vine St. EXPW that I'd love to see gone, and I'd bet its being taxed at next to nothing.

[summersm343]

On the left:




https://phillyyimby.com/2021/04/yimb...rstate-95.html