CPDC Meeting - State of the Real Estate Market and Employment

This morning I spoke on a panel at a meeting of the Central Philadelphia Development Corporation (CPDC) about the state of the real estate market. I was joined by Jeff Tertel of Grubb & Ellis who spoke about the office market, Steve Gartner from Metro Commercial who spoke about the retail market and Jim Pearlstein who spoke about the apartment market.

Paul Levy, CEO of the Center City District and CPDC, presented the newest employment report. Click here to download the full report. In summary:

- There was a 5% job loss in Center City since 2008

- The biggest loss was in the commercial office sector, approx 8,100 jobs

- Health care and education jobs are up 2%

- Leisure and hospitality jobs are down 4.1%

- Retail jobs are down 3.9%

- Philadelphia is faring better than both the rest of the region and the country

Rittenhouse condo lender calls for foreclosure

I spoke to ABC reporter John Rawlins this morning about the repercussions of yesterday's news that 10 Rittenhouse's senior lender is filing for foreclosure.

New Listing for Sale: Beautifully Renovated 2 Bedroom at Independence Place

Just listed for sale a completely renovated 2 bedroom (or one bedroom plus den), 2 bathroom condo with great views of Washington Square and Locust Walk.

The highlights:

-Custom slate and hardwood floors throughout

-Open kitchen with granite countertops, wood cabinetry, stainless steel upmarket appliances (including a wine refrigerator), breakfast bar

-Balcony off the living room

-Master suite features custom wood built-in closets and a large walk-in closet

-Both baths have showers with exquisite tile detail and beautiful vanities

The details:

Price - $579,000

Square Footage - 1173

Address - 233 S. 6th StreetCall me at (215) 545-1500 or email me at domb@allandomb.com to see the unit!

Open Houses: Sunday, September 19, 2010

12:00-12:30 PM - The Academy House - 1420 Locust Street

2 bedrooms, 2 baths; large private balcony; open kitchen with granite countertops, breakfast bar, upmarket appliances, wood cabinetry and tile backsplash; master bathroom is renovated; closets throughout are custom built.

1111 SF $375,000

12:45-1:15 PM - 250 S. 17th Street

2 bedrooms, 2 baths, old world charm with modern upgrades, east-in-kitchen with newer appliances, new HVAC system, oversized windows, Juliet balcony with sunrise views, hardwood floors throughout

1448 SF $429,900

1:30-2:00 PM - The Dorchester - 226 W. Rittenhouse Square

Studio, high floor, wood floors, view of Rittenhouse Square

583 SF $215,000