Take a step back and look at the bigger picture. First, Locust Point was a rental and is converted to Condos. It does NOT have the 10 year tax abatement. It is owned by J Reinhold. They tried converting The Lofts @ Callowhill but reverted back to rentals.
Parc Rittenhouse has uber real estate pro Allan Domb as a development partner. His projects have an outstanding track record. But he's also savvy and holds the best units and rents them out himself. You're competing with a big dawg here.
I'd suggest you can get a much better return buying a "cosmetically challenged" older Ritt Square Condo, fix it up, take the deductions and rent it out at a premium. I try to think out of the box for my investor clients.
If you want out of the box advice, hit me up - MoveSmarter@CBPref.com
Kurfiss | Sothebyâ€™s International Realty
226 W Rittenhouse Square, Suite 102
Philadelphia, PA 19103
I would suggest you contact a real estate agent to assist you with that question. I am a center city Realtor that could assist you with a property market valuation analysis of both those condos that would include gross rental and appreciation potential. Feel free to visit my website http://www.MyPhilaRealtor.com for all your real estate needs and search homes for sale in the entire mls. My contact info can also be found there as well. Tom Napoli, Realtor Keller Williams Real Estate...because your move matters!