Southern Land Company (SLC), a national real estate developer of award-winning mixed-use and master-planned communities, today announced it closed $161 million in condominium sales at The Laurel Rittenhouse Square in 2023.
The year-end sales total is just one indicator of The Laurel’s appeal to buyers searching for a distinctive Center City lifestyle. Since condo settlements at The Laurel began in late 2022, nearly 60 percent of the condos have been conveyed to new residents. Nine of the settlements were more than $5 million each.
“We are pleased with our strong sales and the building’s success in 2023,” said Brian Emmons, Vice President, Southern Land Company. “We finished the year well ahead of our top competitors, which is a testament to the enduring allure of The Laurel’s prime location, granting condo buyers easy access to the city’s finest shops, restaurants, and attractions, as well as the white-glove service our staff provides and the building’s extraordinary living spaces and amenities.”
The Laurel continues to steadily attract buyers from elsewhere in Rittenhouse Square who desire a new way to enjoy life in the sought-after heart of the city, as well as residents of the Philadelphia suburbs who see the unique appeal of living in an ultra-luxury high-rise on Rittenhouse Square.
“We are encouraged not just by last year’s sales numbers, but by what our buyers share with us,” said Emmons. “They seek exceptional city living, decide on The Laurel, and affirm to us it is the perfect place to enjoy the fruits of their labor. We look forward to welcoming many more discerning buyers to The Laurel in 2024.”
Designed by Solomon Cordwell Buenz, The Laurel’s soaring height—rising 599 feet above Rittenhouse Square—and all-glass façade provides sweeping views while simultaneously offering the utmost privacy to residents. Spacious corner residences on each condominium floor grant condo owners incomparable views of the Philadelphia skyline and Rittenhouse Square. The building’s top floors, 46-48, feature full-floor penthouses that are fully customizable to fit owners’ individual needs and wants while surrounded by 360-degree, uninterrupted views of the city.
The Laurel includes 44,000 square feet of high-end restaurant and retail space on the first three floors wrapping around Walnut, Sansom, and 20th Streets. It will welcome a new Schulson Collective restaurant, a Mediterranean concept, later this year. Additionally, The Laurel will offer locals the best in health and wellness with the arrival of Philadelphia’s first Equinox, the global leader in lifestyle fitness and performance. Equinox will span 40,000 square feet of the first two floors of The Laurel, with their lap pool and plunge pools occupying the third floor.
Residents of The Laurel enjoy an impressive collection of premier amenities, including 24-hour concierge; valet parking; an indoor pool and hot tub with sweeping views from the 26th floor; a five-star fitness center with a luxury locker room, steam room, and sauna; a yoga room; a Club Room with bar, catering kitchen, and terrace overlooking Rittenhouse Square; a conference room; golf simulator; and a dog spa. Residents can also take advantage of the guest suite for out-of-town visitors, as well as luxury car service.
The Laurel offers residences with prices starting in the upper $2 millions.
More information about The Laurel is available at www.TheLaurelRittenhouse.com.
Southern Land Company has two additional Philadelphia projects in development:
- Josephine – A 27-story mixed-use development at 1620 Sansom Street
- A 12-story mixed-use development at 5th and Spring Garden Streets in Philadelphia’s Northern Liberties
