One of our favorite songs about the concept of home reads much more like a real estate listing than expected from one of the Aught’s preeminent indie anthems. While I don’t meeeean to seem like I care about material things, sometimes new homes consist of more than just four walls and adobe slats. This has definitely been the case in Philadelphia, where home sales over the million-dollar price point have gone up dramatically over the years despite the need for much more affordable housing in every neighborhood, irrespective of historical protection status.
But we digress, as today we try on something new: a comparison of two new homes to the market. The first of these homes is at 1501 N. 31st St. in Brewerytown, with the second several miles to the south at 720 S. 2nd St. in Queen Village. To pick a big, round number, we’re checking out spots that are right around the $1 million price range.
The first home is towards the upper reaches of Brewerytown, several blocks north of the Girard Ave. commercial strip. The penthouse unit at Otto on the Park, this three-bed/3.5-bath home just hit the market at $1.1 million. Designed by ISA, the look is as contemporary as it gets, with corrugated metal paneling and the neonest green we can think of. The unit’s interiors take a much different approach, with light wood tones and white walls creating a contrast between the bold and the muted. The unit itself is 1,750 sqft ($629/sqft) and includes covered parking for three vehicles, but the main selling point here is the massive, private roof deck with a full, covered kitchen and Center City views.
We head about a block-and-a-half south of South St. to a site that appears to have quite a history, at least according to one of the more fascinating Google Street View journeys we can remember. Formerly home to a classic three-story row house about a decade ago, it looks like the empty lots that were part of the property were built up along with the original house, abandoned before completion, boarded up, and then torn down, all prior to a nine-unit condo called LIV finally going up a couple years back. The design from JKRP utilizes traditional red brick, blending in with the Queen Village vernacular. A penthouse unit with three-beds/three-baths, along with one car protected parking and a roof deck of its own, is currently available for $999,000, offering a similar slate of offerings to its Brewerytown counterpart. This one clocks in at 1,840 sqft ($543/sqft) and could be looked at as a steal after peak listing price of $1.295 million in May 2023.
So, which one is for you? Are you looking for a more walkable area that has a touch more square footage in the sought-after Meredith catchment? Or do you want a spot to entertain a huge group of people outdoors while storing several cars within a short walk of Brewerytown Food Hall? No matter your stage of life (or job location), either spot is looking at $200K down and $6,100/month to get your foot in the door. With the median household income for the city sitting at around $56,517 today, only a lucky few will get to call either spot home.