as with the rest of the market, there has been a recovery at garden court. many weeks there are none for sale. Several one bedrooms this spring sold off market or in a week. One bedrooms are pricing generally from 140-180k.
recent sales include larger units well into the 300s...all this excitement hasn't been slowed by the new special assessment. the current board is being proactive and has planned for the care of this elegant complex. as a general rule, the new owner will assume the higher condo fee (called a special assessment fee) rather than the seller paying it off. in rough numbers, if the condo fee is 400, the special assessment is close to 100...its approx 23% of the condo fee. So a unit with a 820 condo fee now pays about 995.
Condo fees in the building pay for common maint, heat, hot water, pool, gym and courtyards. There is also a "free library" maintained on site for avid readers.
If you are looking to buy or sell, I am the Garden Court expert
1bed+den, approx 1100 sq ft - 195,000
4 bed, 3.5 Bath , approx 2400 sq ft, 301,500
3 bed, 2.5 bath, 2020 sq ft - $235,000
values varry based on size, floor and more importantly condition. I am a former owner and love this complex. Garden court condo is from 46th to 47th between Pine and SPruce. It has 8 buildings, each with separate elevators, a pool and gym
Garden Court Condo is approx 116 units located between 46th and 47th on Pine St and between spruce and Pine on 47th. This complex has a great pool and newer gym. It is 8 buildings, 6 of which flank 2 nice gated courtyards with nice plantings and water features.
In 2011..there have been some great sales, including a record $300,000 sale recently. There is much space ...one bedrooms from 750-1200 sq ft, 2 beds from 1200-1500 sq ft, 3 beds from 1800-2200 sq ft and 4 beds at 2500 sq ft.
The "elevator assessment" is coming to and end at the end of 2012. Many savvy buyers have made sellers pay it off at closing.
I have sold many unit there (over 20) and even 3 transactions this year.
as of today, 4/22/2011 there are 6 places for sale getting ready for the spring/summer new students...they will likely all sell as te builing is a hit with students, parents and other philadelphia professionals...3 of the homes are 3 bed rooms, 2 are 2 bed one baths and one is a small 1 bedroom 1 bath...with the new fitness center, pool and many updates, this "classic" community is still desirable...while may may complain about the "high condo fees" these properties would sell for muchmore if the fees were lower. the fees include heat, hot water, gym, pool and maintenance of the extensive grounds....rumour has it tha tthe "elevator assessment" will end at the end of 2012...anyone with more facts, let me know.
for full disclosure, I am representing the seller of 4631 PineSt, e205.
Garden court is a beautiful old world condo complex in University City near UPENN and Philadelphia College Of Pharmacy.. While many complexes have lots of places for sale, the mature complex has as of today one for sale. The last 3 bedroom went to contract in 2 weeks.
The three bedrooms range from 2000-2200 square feet. Rarely, you might be able to get a 4 bedroom in the H building. Its about 2500 sq feet.
While many people are concerned about the condo fees, these large homes (on bedrooms 900-1000 sq ft),2 bedrooms from 1200-1500 squarre feet are available for reasonable prices.
Last summer, I helped a seller with a lovely 800 sq ft garden level condo sell it for just under 150,000. I have helped consumers buy and sell over 20 of these homes.
The building also has a newer fitness facility and pool.
If you like upper east side large spaces, this is for you. If you want sleek and modern and central air, look elsewhere.
Garden Court Condo is a condo complex of 8 buildings between 46th and 47th and Spruce and Pine Street in University City. This complex is a historic appartment building converted to condos in the 1990s.
This 116 Unit development has a pool, gym, garden courtyards and a lot of charm. As of today's date, it is a Fannie Mae approved development and hasn't proven to be a trouble financing in recent years.
While is has seemingly high condo fees, one must appreciate it includes heat. When one considers heating bills at home and the size of the residences it's a value. The one bedroom residences are approx 700-1000 sq ft, 2 bedrooms are approx 1100-1450 sq t and usully have a dedicated dining room. Three bedrooms (one as a maids room or small 3rd bedroom) are 1750-2100 sq ft, and four bedrooms are approx 2450 sqft. When a four bedroom is available, move quickly. They only come up once every few years.
While these residences rarely have central air, most people find them a very gracious lifestyle.
I have sold 7 in the last year. Most recently, I sold a210 a two bedroom two bath plus dining room of approx 1450 sq ft for a record $241,000. If I can help anyone learn more about this complex or help an owner to maximize the value of their sale, please call me 267-312-6221