Copyright The Philadelphia Inquirer
Nearly two years after it hit the market, and for nearly $2 million less than the original asking price, Joel Embiid’s Society Hill penthouse has sold. The bi-level apartment at 101 Walnut St. was initially listed for $5.5 million, pulled off the market, and then re-listed. It ultimately sold for $3.6 million on Oct. 31, according to Andrea Desy Edrei, of Serhant. Pennsylvania, who represented both the buyer and seller in the transaction. Asked why Embiid was selling the apartment, Edrei noted, he and his family “enjoyed living there until their family needs changed.” The Philadelphia Business Journal first reported the sale, which does not yet appear in the city’s public property records. The property previously sold for $3.2 million in 2018. The apartment spans 3,549 square feet and includes an outdoor pool, hot tub, and views of the Delaware River. It has two bedrooms, each with its own bathroom. Edrei declined to share who the buyers are but noted they are locals who were already living in the neighborhood. “They actually weren’t really considering moving, but they were extremely captivated by the property and everything going on in the neighborhood, with the I-95 park capping,” she said. “They know that there’s going to be some great things on the horizon in that neighborhood, and they really just fell in love with the space.” The condo is one of 10 units in the 12-story apartment building near the park at Penn’s Landing which is under construction to build a cap over I-95 that will connect Front Street to the waterfront between Walnut and Chestnut Streets. The property had received rental offers, and prospective buyers had come in from New York to see it, said Edrei. “Philly still offers a lot of value right now, so there’s still some wonderful deals out there,” she said.
