We've written before about the saga of 10 Rittenhouse, the residential building on the Square developed by Arc Wheeler and designed by Robert A.M. Stern that was unable to sell 129 units in a tough economy. In January, the unsold units passed from receivership to Sheriff's Sale, and iStar Financial, the original lender, is now the building's owner. Dranoff Properties, which served as receiver, is overseeing the sales and marketing efforts, which, according to HWPR's Katie Daniels, are working. Daniels, who's handling public relations for the building from New York, says, "Over the last six months, the team has recorded approximately $30 million in sales averaging around $700 per square foot."
This afternoon we're going to 10 Rittenhouse to meet the sales director, take some photos of the latest apartments for sale and try to get a sense of what the future of this building—and its saline pool (pictured)—might be.
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