Orens Brothers - 2200 Arch Street - Page 6 - PhillyBlog

TheKookyOne · #51 (**permalink**) 01-16-2007, 05:25 PM

Thanks for everyone's feedback. I think we are going to make an offer and see what happens. It is nice to hear everyone is so happy!

staffinguru · #52 (**permalink**) 02-07-2007, 10:01 PM

Hi kooky one. i'm happy to share my experiences. drop me a line at emails4evan@yahoo.com

BigH · #53 (**permalink**) 03-24-2007, 07:50 PM

so I stopped by the building today to see some units. Unfortunately the office was closed. I am curious as to why it has taken so long to complete this building. My gut is telling me that it may be some funding issues.

Also, the unit I'm interested in 302 has an asking price of $365k. It is not surprising, in typical developer I can set any price fashion, that the 202 and 402 sold in the high 200k's in mid 2006. Apparently, 302 has "upgrades". Unless they've added solid gold to the bathroom fixtures, any buyer would be a fool to buy at that price.

Malloy · #54 (**permalink**) 03-25-2007, 03:24 AM

LOL I though tthis project was sold out 2 years ago??

dagmar · #55 (**permalink**) 03-25-2007, 02:13 PM

Yeah, they were all sold out--even the developments that never came to fruition, haha

MayfairMeat · #56 (**permalink**) 03-25-2007, 02:32 PM

Quote:

Originally Posted by johnnie

I was a consultant for an outside firm not associated with Orens, back in Aug 2002 (I believe that was the date)when the project started. The inside of that building was disgusting. I believe it was the major crack house of the area. A dead body was even found in one of the elevator shafts. Pretty rotten stuff with all the pigeons too. You'd be surprised how high the pigeons can pile their "stuff"!

Wasn't the building on fire one or two times?

Like the previous poster alluded to... the entire building was stripped bare down to the concrete and rebuilt--so I wouldn't fret that much about dead bodies and pigeons. And they should have a sprinkler system.

Oh big bonus, there's a hip porno theater across the street in case you need a lube fix.

BigH · #57 (**permalink**) 03-25-2007, 04:01 PM

If the building did sell out, there are alot of buyers who pulled out. I stopped by yesterday. Most the third floor is available. I remember looking at the building and prices of the units. It looks like alot of the units sold for a lot less than asking price for pre-construction. For example, I remember they were asking in the high 300ks for a large one bedroom. If you check the tax records, alot of units sold in the low 300ks or high 200ks.

From the looks of their pricing, it looks like they are still trying to sell in the high 300ks, but for large spaces.

MrBrightside · #58 (**permalink**) 03-25-2007, 08:45 PM

Quote:

Originally Posted by BigH

so I stopped by the building today to see some units. Unfortunately the office was closed. I am curious as to why it has taken so long to complete this building. My gut is telling me that it may be some funding issues.

Also, the unit I'm interested in 302 has an asking price of $365k. It is not surprising, in typical developer I can set any price fashion, that the 202 and 402 sold in the high 200k's in mid 2006. Apparently, 302 has "upgrades". Unless they've added solid gold to the bathroom fixtures, any buyer would be a fool to buy at that price.

There aren't any funding issues.

The 3rd floor is the last floor to be completed as it was being used to house materials. Additionally, the 3rd floor is the only floor (aside from the top floor) that can be used to create a mezzanine or 2nd level. That means that with the same footprint on different floors you can create more livable space.

Apparently there have been a lot of fools buying at these prices.

BigH · #59 (**permalink**) 03-25-2007, 09:05 PM

Quote:

Originally Posted by MrBrightside

There aren't any funding issues.

The 3rd floor is the last floor to be completed as it was being used to house materials. Additionally, the 3rd floor is the only floor (aside from the top floor) that can be used to create a mezzanine or 2nd level. That means that with the same footprint on different floors you can create more livable space.

Apparently there have been a lot of fools buying at these prices.

it is still quite a premium they are asking for the units. Maybe I should run valuations based on fool per sq. ft. ?

mrsjde · #60 (**permalink**) 03-26-2007, 12:46 PM

We have been in the building since May ~ very very happy so far.

Price per square foot will give you an idea what people paid for their units ~ However, from what I have heard is that the majority of the units have been seriously upgraded by the owners after the sale, especially the combined units.

Also have heard that Orens are very happy with the progress of the building.