William Penn House Co-ops - Rittenhouse Square, Philadelphia, PA

Impressions

The William Penn House is a large co-operative development. It was built in 1965 by Frankel Enterprises

Pros

• The location is superb, 3 blocks from Rittenhouse Square, 5 blocks from City Hall, 8 - 10 blocks from theaters and concert halls on Broad St. The trolley station on Market St is 2 blocks, the train station is 5 blocks and the subway on Broad St is 5-6 blocks. Walk out the front door to many restaurants and stores.
  
• Parking is outstanding.There is a garage with valet parking. You pay $80/month for one spot and the market rate, say $350/month in fall of 2019, for a second spot
• Monthly fees are reasonable. When you consider that utilities, cable, real estate tax and parking are included it's an excellent deal. There is a yearly fee for the use of the pool and a one-time fee for use of the gym
• Financially strong. There has never been an assessment as of fall of 2019.
• As this is a co-op, there is no transfer tax when buying or selling a unit
• Amenities are excellent, particularly the large rooftop pool and deck that affords 360 views of the Philadelphia skyline
• Excellent outdoor space. More than one third of the units in the building have good-sized terraces
• Very secure. 7/24/365 coverage in the lobby 
• On-site management and maintenance staff. Issues are quickly addressed

Cons

• Pets are not allowed
• There is a pretty hefty administrative fee due at settlement. It varies with unit size in a range of $15k - $25k in fall of 2019
• There are few units 1200 sq ft or larger

Compare To

• 2101, The Dorchester, Kennedy House, Wanamaker House

William Penn House Fast Facts