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New Philly penthouse listed for a record $25M. But where are the condos for middle-income buyers?

by Caitlin McCabe

October 12, 2019

If there were ever an indication of how much the Philadelphia real estate market has transformed, look no further than the $25 million condo being marketed on Rittenhouse Square.

At the Laurel, the 48-story tower that will soon rise near 19th and Walnut Streets, Southern Land Co. is hoping that the unit’s views from almost 600 feet above ground will be enough to secure the priciest home sale in Philadelphia history. Should the Nashville-based developer get what it’s asking, the Laurel’s penthouse will beat out 500 Walnut’s top floor, which sold for $17.03 million in 2017, and caused such a stir that it was rumored to have been purchased by Beyoncé and Jay-Z.

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