The lofts at 1352 South Street, better known as the 1352 Lofts, are billed as “The height of expectations” and, once one is introduced to the beauty, comfort and safety the building offers, it is hard to disagree.
Built from the ground up in 2007, the building features concrete, steel and glass construction that combines with exposed duct work to create an open, modern feel in each living unit. Luxurious amenities in the one- to three-bedroom units include double-paned, high-efficiency windows, central heating and air conditioning, walk-in closets, in-suite washer and dryer units and hardwood floors. Kitchen amenities such as stainless-steel appliances, gas ranges, custom fixtures, recessed lighting and gourmet kitchens featuring granite countertops and kitchen islands also set the units at 1352 above similarly sized spaces.
Select units even feature 20-foot-high ceilings that allow for stunning city vistas courtesy of floor-to-ceiling windows, private balconies and outdoor terraces.
All units benefit from a secure lobby offering 24/7 concierge staffing, advanced security monitoring featuring closed-circuit television and an exclusive discount on membership at The Sporting Club at Bellevue (nearby at the intersection of Broad and Locust streets). Residents receive a parking space in the building’s gated lot with their home purchase. Uniquely, unlike many similarly majestic units, residents at the 1352 Lofts are free to have pets.
“There’s nothing like this in the city,” says Gaurav Gambhir, who is principal and owner of The Condo Shop, a boutique real estate agency, as well as executive director of sales for the 1352 Lofts, which is just one of The Condo Shop’s Philadelphia properties. “It is true loft-style construction, and [the building] is one of the only ground-up loft constructions in the city.”
Indeed, with roomy living spaces available in single and bi-level versions, as well as luxe penthouses, the 1352 Lofts have something to offer even the most discerning prospective resident.
The neighborhood itself is a draw for many prospective residents.
“The 1352 Lofts are in one of the most upcoming neighborhoods in Philadelphia,” he says. “Twenty two townhomes are being built right next door, on the south side of the building, and they are selling for $1.3 million and up.”
When one examines this boom more closely, the reasons are quite apparent. The 1352 Lofts are in a neighborhood that provides easy access to some of Philadelphia’s most renowned cultural institutions, including The Academy of Music, The Merriam, Prince Music and Wilma theaters, the Pennsylvania Ballet, the Pennsylvania Academy of Fine Arts and the Kimmel Center for the Performing Arts. Residents also have ample opportunity to get outdoors; the 1352 Lofts are located between the beloved parks at Rittenhouse Square and Washington Square.
Convenient access to a bevy of some of Philadelphia’s most delectable eateries also abounds. Nearby restaurants include the much-lauded Sbraga restaurant by Kevin Sbraga, winner of Bravo TV’s “Top Chef: Season 7”; Valanni, serving small and large plates by executive chef John Strain; Mixto, which offers Cuban, Latin American and Caribbean cuisine, as well as outdoor seating; and Supper, with modern American cuisine by chef Mitch Prensky. Residents can also enjoy restaurants such as Tria, which aims to “celebrate the fermentation trio of wine, cheese and beer”; Miles Table, offering breakfast all day; Vedge Restaurant, offering new American vegetarian and vegan dishes; and Brick & Dalias Piano Bar, serving new American cuisine and cocktails.
To note, home cooks also have easy access to their own fresh meats and produce, as the 1352 Lofts are just down the street from a Whole Foods Market and a Superfresh.
Another selling point, Gambhir notes, is the extremely low tax rate 1352 Lofts residents will pay.
“The units still have balance of 10-year tax abatement through 2017, meaning taxes are approximately $500 per year,” he says. “A comparable unit would cost $5,000 to $6,000 in taxes each year.”
Condominium fees, he continues, are also extremely reasonable.
“The condo fees are one of the lowest in the city—that’s another reason we are doing so well,” Gambhir says. “If someone wanted to buy a 1,500-square-foot condominium, for example, that person would end up paying fees close to $1,000 a month. Our condo fees, on average, are no more than $500 a month. This allows owners to save money or buy more living space for the same monthly cost.”
As one might expect, the units at 1352, which range in price from $350,000 to $1.5 million, have become hot commodities. Gambhir, who refers to 1352 Lofts as “a hidden gem,” says, “We just achieved 50 percent sales, and we are selling fast. We’ve been selling units in the building in less than 90 days, setting a new record—and we’ve been getting full-price offers.”
Offices in the 1352 Lofts are open seven days week for showings, and open houses are held every Saturday and Sunday from 12 p.m. to 4 p.m. Prospective residents are encouraged to call soon to take a tour, to reserve one of these magnificent units for themselves.
1352 Lofts
1352 South Street
Philadelphia, PA 19147
215-545-1352
www.1352south.com | www.thecondoshops.com
