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50 S 16th Street
Philadelphia, PA 19102
$2,099,999
Conventional
Property
Bedroom
2
Bathroom
3
Property Type
Conventional
Square ft
1701
Property Description
A true architectural masterpiece! With approximately five years left on the TAX ABATEMENT! The rare opportunity to own a breathtaking penthouse in the sky located in the pinnacle, triangular pencil point of Philadelphia's iconic Two Liberty Place skyscraper. Unit 5602 is one of only four units on the 56th floor and inspires the felling of being a passenger on a super stealth jet with it's picturesque convex and concave windows. The 56th floor is the second highest residential floor in Philadelphia/Pennsylvania and the unit boasts jaw dropping magnificent panoramic views of the city's sunrises and sunsets along the Schuylkill and Delaware Rivers. Your own observation deck in the sky. The spectacular penthouse includes 2 bedrooms and 2.5 baths. The unique open great room floor plan with its oversized Concave window (almost 11ft. tall) with large gas fireplace is ideally designed to separate the main bedroom from the second bedroom/den living space to provide ideal privacy. The chef's kitchen is equipped with Miele appliances, Sub-Zero refrigerator, and wine cooler and is beautifully complemented with Italian made Snaidero white cabinetry. The spacious main bedroom is a visual spectacle with it wall of convex triangular oversized (almost 11 ft tall) windows. Connected to the main bedroom is a well-equipped dressing area with a large, oversized closet. The warm grey/white marble main bathroom includes a walk-in shower, soaking tub and double vanity. The generously sized second bedroom/den has an oversized closet along with a full grey/white marble bathroom with oversized shower. In addition to the two bedrooms , there is a separate area which includes a small hallway that separates a marble powder room from the laundry space. The cleverly designed floor plan positions this area, so it does not interfere with the rest of the living space. Doorman service and 24 hour on site security. Residences of Two Liberty Place are exclusively entitled to access to the NEWLY enhanced renovated (March 2024) 37th floor amenities, including 24 hour gym/locker, endless pool, massage room, yoga studio, sauna and separate steam room. The Amenity floor also contains an oversized boardroom, smaller board room, business center, common area with amazing views and a media/billiard/fireplace and large kitchen entertaining area with spectacular views as well. Residents have direct secure access to the Shops of Liberty Place, Chauffeur driven concierge limousine service, valet parking, self-parking along with access to indoor parking even for your guest, all within the building. A storage locker is included as well. The unit was the model used by the developer to solicit buyers for the Residences of Two Liberty Place when they were first offered to the public. The unit is in flawless condition and is available unfurnished but the owner is willing to discuss the furnishings as part of the purchase.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1990
MLS Number
PAPH2339442
Location
Address
50 S 16TH STREET
City
PHILADELPHIA
State
PA
Zip Code
19102
County
PHILADELPHIA (SOUTH)
Listing
Provider
Simple Choice Realty, Inc, original listing
Name
Simple Choice Realty, Inc
Phone
(610) 410-0702
Office Name
HomeZu by Simple Choice
Office Phone
(855) 885-4663
Agent Name
Chris Carr

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.