The Marine Club Condominiums is a ambitious renovation project on South Broad Street. The building, built in 1904, originally served as an administrative and warehousing facility for the U.S. Marine Corp. Then, after a brief period as an apartment building, EB Realty turned the historic building into a collection of luxury condominiums.

The historic facade of the building belies its open, modern interior. The condo units feature high ceilings, large windows and a great sense of space. Clean lines and modern fixtures combine with wood floors and well conceived lighting to give each unit a great, high-end, urban feel.

The units are relatively modest in size and start in the low 100s which makes them accessible to a wide number of buyers. There are quite a few under contract already but still plenty left for those who want a luxury condo at a good value.

View MLS Listings for Marine Club Condos

Some of the amenities from the developer’s website include:

• On-Site Garage Parking Available
• Granite Countertops
• Marble Tile
• Stainless Steel Appliances
• Hardwood Flooring
• 11+ Foot High Ceilings
• Skyline Views
• Digital Cable & Internet Ready
• Pet Friendly Environment
• 24 Hour Concierge

Project Title Condo Project Stats

Neighborhood: South Philly
Address: 1100 S Broad St
Developer: EBRM
Style: Contemporary
Type of Units: Studio, One-bedroom and Two-bedroom from 500 - 1,300 sf
# of Units: 295
Price Range: $130K+
Avg. Price psf: $355 psf
Monthly Condo Fees psf: $0.41
Yearly Tax psf: $1.29
Total Monthly Fees psf: $0.52
10-yr Tax Abatement: Yes
Parking: Indoor Covered available
Amenities: 24hr Concierge, Fitness Facility, Interior Courtyard

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The Murano Condominiums is a beautiful 42 story building on the corner of 21st and Market. This new, exciting addition to the Philadelphia skyline features 1-3 bedroom luxury condos behind its impressive glass facade. Located near many of Philly’s best restaurants and shopping, the Murano is an ideal base from which to experience urban living to the fullest.

Solomon Cordwell Buenz, the architecture firm behind the Murano has designed a building that is both interesting and functional. The floor plans take advantage of the curved facade to present incredible views even in the lower floors. Rather than finding a challenge in the building’s unique shape, the designers have turned that shape into a benefit.

The Murano features all of the amenities one would expect from a luxury condo building. There is valet parking, a concierge service and, of course, a fitness center. The building also adds a couple of unique ideas like a shared patio high above the city and an indoor pool with a view. Residents also have access to a hospitality area in case a party invite list exceeds the capacity of their unit.

There is nothing particularly inexpensive about the Murano, but for those in the luxury condo market it could be a great value.

View MLS Listings for The Murano

Some of the amenities from the developer’s website include:

• Fitness Center
• Swimming Pool
• Massage Room
• Wenge Cabinets
• Floor to Ceiling Windows
• Private Baconies
• Soaking Tub
• Valet Parking
• Concierge

Project Title Condo Project Stats

Neighborhood: Rittenhouse Square
Address: 2101 Market St
Developer: P&A Associates
Style: Modern
Type of Units: One-bedroom, Two-bedroom, Three-bedroom and Penthouse units from 800 - 2,350 square feet.
# of Units: 302
Price Range: $450K+
Avg. Price psf: $574 psf
Monthly Condo Fees psf: $0.77
Yearly Tax psf: $0.43
Total Monthly Fees psf: $0.0.81
10-yr Tax Abatement: Yes
Parking: Onsite, secure available
Amenities:24hr Concierge, Indoor Pool, Fitness Room, Sun Deck, Hospitality Room w/ Full Kitchen

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Whether you are a real estate professional or an investor, its wise to fully understand the consequences of the Federal Reserve’s recent rate cuts. On December 16th the Fed lowered its Federal Funds target rate to a range between 0% and .25%.

Outlined below are five ways that the Fed’s actions will effect you:

1. Fixed mortgage rates
Believe it or not the Fed rate cuts do not directly impact the 30–year fixed mortgage. However, the Fed reiterated that is was looking at the possibility of buying long-term Treasury bonds which could work to bring rates even lower.

2. Prime Rate Loans
The most immediate impact of the Fed’s rate cuts is going to be felt by consumers with loans that are tied to the prime rate. The Prime Rate is currently 3.25%. Home Equity lines of Credit and credit cards with variable interest rates tied to the Prime Rate will be immediately effected, thus saving borrowers money.

3. Home Equity Savings
Home-equity loans averaged 5.5% in October but dropped to 5.26% in November following the Fed’s half point cut. Economists expect home equity lines to see similar declines as a result of the 12/16 rate cut.

4. Target Vs. Effective
Fed rate cuts reduce banks cost of funding, which allows them to widen profit margins and pass
along savings to consumers in the form of lower interest rates. However, today’s markets may not pass along the savings immediately to consumers….

5. Now What??
The Fed does not expect to reverse its course anytime soon. The Fed anticipates that weak economic conditions and the threat of deflation are likely to warrant exceptionally low levels of the federal funds rate for quite some time.