1508 PINE STREET TO WAVERLY STREET Rittenhouse Sq, Philadelphia 19102

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1 BROWNSTONE FOR SALE 1508 PINE STREET TO WAVERLY STREET Rittenhouse Sq, Philadelphia WALNUT ST, PHILADELPHIA, PA

2 PROPERTY FOR SALE 1508 PINE STREET Rittenhouse Square, Philadelphia The property at 1508 Pine Street is part of the historic row of Italianate Brownstones known as Lewis Row. The architect of this iconic brownstone block was Thomas Ustick Walter, who is famous for designing the dome of our nation s capital in Washington DC was on the team of architects that designed Philadelphia s City Hall. About 8 years ago, 1508 Pine Street was purchased by Philadelphia Restoration Architect, Martin J. Rosenblum, as a complete shell. Except for the historic features that could be saved, 1508 was gutted and completely re-designed and re-built with high-end materials and finishes. The end result was four magazine quality condominiums consisting of three large bi-level units and one large tri-level unit. All units have separate tax parcel numbers. The building has been a rental property since the renovation and is being sold in its entirety. Going forward, a new purchaser would have the option of selling off one or all of the units if they so choose. The property goes street to street and has a two-car side-by-side parking area on Waverly Street. Two years remain on its 10-year tax abatement. There is information enclosed regarding the taxes. SITE 1508 Pine St

3 PROPERTY OVERVIEW Price $2,150,000 Number of Buildings 1 Number of Floors 4 Number of Units 4 Unit Mix 2 - Two Bedroom/2.5 Baths (1,773 SF & 1,647 SF) 1 - One Bedroom/1.5 Baths/Den (1,160 SF) 1 - Two Bedroom/2.5 Baths/Den (1,405 SF) Lot Size 20 x 130 Lot Area Total Rentable Area of Building Total Rentable Area of Residential 2,600 SF 5,985 SF 5,985 SF Real Estate Tax Assessment 2018 $600,040 * Real Estate Tax 2018 $8,397 * Parking Frontage Site Shape Zoning Exterior Utilities Domestic Hot Water Water Heating Air Conditioning Kitchens Bathrooms Flooring Laundry Features 2 spaces 20 on Pine Street; 20 on Waverly Street Rectangle RM-1 Brownstone All units are separately metered for water, electricity and gas High-efficiency gas water heaters Separate water meter High-efficiency gas Central air Euro Kitchen with Bosch appliances, Liebherr refrigerators, wine refrigerators, xenon lighting, stone countertops Toto and Duravit fixtures, California faucet trim, granite floors, custom cherry vanities with vessel sinks Hardwood and granite Each unit includes washer and dryer All units are a minium of 2 levels and have stainless steel Omnia door levers, glazed doors, Elfa closet systems, 3/4 thick hardwood floors * The property has 2 years remaining on a 10-year abatement.

4 Operating Statement INCOME Scheduled Gross Income $143,340 3% (4,300) Effective Gross Income $139,040 EXPENSE Real Estate Tax 2018 $8,397 Utilities 1,650 Exterminator 1,797 Maintenance 4,700 Licenses 300 Insurance 8,088 5% 7,167 Total Expenses (32,099) Net Operating Income $106,941

5 Property Taxes 2018 Asessment Improvement Exemption Abated Asessment Unit A $543,700 ($371,246) $172,454 Unit B $390,100 ($275,232) $114,868 Unit C $515,500 ($348,220) $167,280 Unit D $459,400 ($313,962) $145,438 Total $1,908,700 ($1,308,660) $600, Abated Taxes $8,397 (2 years remain) 2018 Actual Taxes $26,700 * This figure reflects the improvement exemption provided by its tax abatement. The property has 2 years remaining on a 10-year abatement. The actual 2018 assessment on the property is $1,908,700 with 2018 actual taxes $26,700.

6 Rent Roll UNIT UNIT TYPE MONTHLY RENT UNIT SF RENT PSF LEASE EXPIRATION A 2 Bdrm/2.5 Bath (incl parking) $3,250 1,773 $1.83 5/31/2018 B 1 Bdrm/1.5 Bath/Den/Patio $2,550 1,160 $2.20 6/15/2018 C 2 Bdrm/2.5 Bath/deck (incl parking) $3,295 1,647 $2.00 6/30/2018 D 2 Bdrm/2.5 Bath $2,850 1,405 $2.03 6/30/2018 TOTAL $11,945 5,985 SF $2.00 RESPONSIBILITY FOR UTILITIES (ALL UNITS SEPARATELY METERED) Electric Heating/Air Conditioning Water and Sewer Domestic Hot Water (Gas) Cooking Gas TENANT TENANT TENANT TENANT TENANT

7 Property Photos and Features BEYOND THE HISTORIC BROWNSTONE FACADE Superbly located Exquisite lighting Innovative multi-level floor plans Each unit has a house-like feel Euro Kitchens - Bosch Appliances - Liebherr Refrigerators - Wine Refrigerators - Xenon Lighting - Stone Countertops Baths - Toto and Duravit Fixtures - California Faucet Trim - Granite Floors - Custom Cherry Vanities with Vessel Sinks General Appointments - Stainless Steel Omnia Door Levers - Glazed Doors - Elfa Closet Systems - 3/4 -thick Hardwood Floors High-efficiency Gas Heat High-efficiency Water Heaters Washer/Dryer Included Contemporary Flair Within Historic Structure Soaring Ceilings Each Apartment a Minimum of Two Levels

8 Property Photos

9 Property Aerial

10 Site Plan

11 Parcel Map

12 Floor Plans UNIT A UNIT B

13 Floor Plans UNIT C UNIT D

14 About the Architect & Designer design of Girard College for Orphans ( ), Realty, Inc. is pleased to present for the first time 1508 Pine Street, which is part of the legacy that is the Italianate Brownstones of Philadelphia-born architect Thomas Ustick Walter (b. 1804, d. 1887) who proved to be an important American architect. Trained in the office of William Strickland and schooled by John Haviland and the landscape artist William Mason, he also served an apprenticeship with his bricklayer father with the ambition of becoming a bricklayer/contractor. By 1831, however, Walter had begun to practice architecture, first gaining local recognition with his gothic-style Moyamensing Prison ( ) and then winning national recognition for the Hundreds of commissions followed in the 1830s and 1840s, including those as far as Venezuela and China. It was in 1850, however, when Walter entered the competition for the design for the extension of the United States Capitol, that his place in American architecture was firmly established. The wings and the dome of the Capitol shaped the image and iconography of American governmental building for years to come. Had Walter executed no other design save the Capitol, his place as a key figure in American architecture would be assured. But the full body of his public and private commissions, together with his role as a founder of the American Institute of Architects, established him in the view of his contemporaries as the dean of American architects. In 1865 Walter resigned as architect of the Capitol and retired to Germantown, where he had built for himself an Italianate villa in Financial reverses in the early 1870s caused him to return to the practice of architecture. When his friend and colleague John McArthur, Jr. won the Philadelphia City Hall competition, Walter was appointed his second in command. He held this post for over a decade until his death in THE INTERIOR OF THE PROPERTY AT 1508 PINE was recently redesigned and renovated by Martin Jay Rosenblum and associates, who have specialized in traditional detailing of 18th and 19th century architecture.

15 About the Neighborhood: Rittenhouse Square One of five original squares planned by city founder William Penn in the late 17th century, Rittenhouse Square has become widely considered as one of the finest urban public spaces in the United States. The park square is nested in the middle of Philadelphia s Center City District, providing an oasis of respite and relaxation amidst the bustling city. The neighborhood park is one of the most lovely and peaceful spots in which read, relax on a park bench, catch-up with friends, or people watch. High-rise residences, luxury apartments, an office tower, popular restaurants and retail stores surround this tree-filled park. Once predominantly a daytime destination, Rittenhouse Square is now a popular nightspot as well, with a string of restaurants including Rouge, Devon, Parc and Barclay Prime that have sprouted up along the east side of the park on 18th Street. So these days, you can take in the serenity of the natural landscape from a park bench in the sunshine and then sip cocktails under the stars at one of many candlelit outdoor tables. Moreover, many additional restaurants, bars, and clubs have opened along the surrounding blocks in recent years. Some of which include Parc, Tria, Continental Midtown, Il Pitore, Village Whiskey and the Dandelion.

16 About the Neighborhood: Rittenhouse Square