Downtown penthouses pull in premium prices
Friday, March 24, 2006 at 12:00PM Downtown penthouses pull in premium prices
Pittsburgh Business Times - March 24, 2006
By Robert Sandler
In the first two days that reservations were being accepted for apartments in The Encore on 7th, the new high-rise on Fort Duquesne Boulevard, both penthouses had been snapped up at a price of $5,000 a month.
When the new 151 FirstSide condominium building got started, a $1.5 million penthouse was one of the first units to sell. And in the Strip District, renters are making reservations for top-of-the-line $3,700-per-month apartments.
Penthouses have been snapped up quickly since the current wave of Downtown apartment and condominium construction kicked off last year. Buyers have been plunking down serious money to jump out of their cars and ride an elevator the rest of the way home.
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