Philadelphia

777 Broad Street Opens and looking to hit the Jackpot with Tenants

Some would say that Philadelphia’s building boom has gone belly up, well almost, although one such project conceived under the tax abatement program, has been completed. 777 Broad Street officially opened in March 2010 as predicted many years ago by Developer Carl Dranoff and his team. (I guess if you own the whole 701 block you can create any address you want)
According to an article in the Philadelpia Inquirer 10/4/09: The project, the start of Dranoff’s effort to push the border of Center City farther south, sits less than a quarter-mile from Dranoff’s 31-story, $130 million Symphony House condo tower.Rents will range from $1,900 for one bedroom to $2,600 for two. Currently, the average rent in the region is $1,361, up 6 percent from 2008, according to the apartment search engine Rental.com (Where the heck is that and is that for a 1 bedroom, really?). I don’t fault the rents being that high, because this is a high end, super luxury apartment building.
Carl Dranoff addresses the crowd, as Councilman DiCicco and Judge Marjorie Rendell look on. Judge Rendell has really spearheaded the Avenue of the Arts project for over 10 years. My boss who has since passed away, Harold Kohn, was also one of the early supporters.
There were nearly 500 people from all walks of life attending, including dignitaries, politicians, the movers and shakers and good for him for inviting the maintenance staff, construction workers, people who work in his office and new residents. In this shot from left in the grey suit Sen Larry Farnese, Carol Tinari, and Bill Green Jr. who looks just like his dad.

Ruben and Sandra Krisztal. Ruben J. Krisztal, Esq., came to the United States from Argentina in 1967. He has been practicing law for over twenty years and has been litigating nursing home cases for more than fifteen years. He received his B.A. and J.D. from the University of Missouri at Kansas City. He and his wife have a full time home in their native Kansas, but spend a good amount of time here in Philly as Ruben is working on a few very important cases. They are the 1st tenants to sign a lease at 777 and are excited to move in at the end of April. They love the amentities, and the fact that it’s a GREEN building.
Rollin Ward, David Riley and Eugene Radcliff enjoy the party. The event was held in the future spot of a restaurant that Carl Dranoff would not disclose to me. The space was about 20,000 square feet.
But the residents of 777 do have The Fitzwater Pub (At first I thought nice Irish name for their “clubhouse” pub, but then I remembered a bordering street is Fitzwater. It’s probably a play on both words.) The room is so much more than this picture, but I liked the pool table.

Jen Abrams, Joe Petrusky and lovely in green Roberta Dranoff
Carl Dranoff challenged the interior design students at Drexel to turn 777’s hospitality suite into a luxurious, eco-conscious living space. During the challenge, groups of students in Professor Debra Ruben’s Competition Studio class competed against one another to design a space that meet standards in sustainability, function, and budget. Ruben is a LEED AP and head of Drexel’s Interiors Program sustainability curriculum. The winning team was “The Three C’s” Chrstine Murray, Candace Spence and Courtney Robinson, in their winning apartment.
Mark Segal, excited to announce that beau Jason is returning from the Far East after a year long study. Annie Carl, Gov Rendell’s office and Robert Metzer
Philadelphia Style Magazine’s publisher John Colabelli, with Nina Stanley and newly promoted Associate Publisher at Philadelphia Style Magazine / Niche Media LLC Noah Stein.
Bedroom
Avenue of the Arts
Annie Carl, Terry Gillian, RDA and Karen Lewis, Executive Director of The Avenue of the Arts
The largest two-bedroom units, at the corners with the best views, will go for $3,800 a month.
The 5th floor corner unit where Carl Dranoff is posing with his daughter, mother in law and her BFF
For a great read on the progress of 777 Broad Street, check out the Sky-scrapper blog