The "Penn North" Cooperative Apts at 1900 JFK Blvd? (Philadelphia: for sale, real estate market)

[averageperson]

I am considering buying a cooperative apartment in the "Penn North"
building located at 1900 JFK Boulevard in Center City.

What do you know about it?
The building looks attractive.
I know very little about that building.

Its' quite cheap compared to other buildings in Center City
Have you heard any first person accounts from past or present residents?

[newmarlig]

That's the Kennedy House. I've heard good things. The residents are on the older side - if that matters to you.

[bryson662001]

There are two buildings, independent of each other. Kennedy House on the north side of the street is the taller dark brown building. I believe you are refering to the Penn Center House across the street on the south side. That is 1900. (there is no such thing as Penn North Cooperative unless it is a cooperate name) They have had several one bedrooms on the mls recently.
As far as how the building works they can explain all that to you. Ordinarily the building buys the apartment back but if they can't sell it in a certain amount of time then the owner is allowed to try to sell it themselves for what ever they can get. The last time that happened was in the early '90's which is another indicater of how distressed property in center city is in this down market.
Besides the fact that you won't find anything else out there even close in price, this building is a safe, secure, comfortable place to live and great location. The mortgage is paid off but I don't know what the reserve looks like. They have a deal with Kennedy House across the street where you can join their rooftop pool club in the summer. It isn't the fanciest building in town but it is light years better than many condos costing alot more. Unless you can afford and want to spend much more, The Penn Center House is a win/win.

[averageperson]

Thank you very much to both people who posted. Your information is very helpfull. Thank You
Still open to additional feedback from others about co-op "Penn Center" in Center City at 1900 JFK Blvd

[bryson662001]

The OP pm-ed me that he couldn't deal with the financing issues. In other words he couldn't afford it.
Good luck. I had my one bedroom at William Penn House on the market for more than a year during which time it lost a third of it's pre-crash value before I got one low ball offer which I declined. And we have great financing in place. Decided to hang on for awhile and withdrew it. The real estate market in Center City really sucks. Your going to have to give it away to some smart and lucky person.

[bryson662001]

Some additional info on Penn Center House: New residents are required to have cash savings equal to 2X the purchase price and income equal to 3X the monthly maintenance.

[BPP1999]

Originally Posted by bryson662001

Some additional info on Penn Center House: New residents are required to have cash savings equal to 2X the purchase price ...

Really? What do the purchase prices average?

[bryson662001]

Originally Posted by BPP1999

Really? What do the purchase prices average?

19103 Real Estate - PHILADELPHIA, PA 19103 Homes for Sale - Realtor.com®

[phlxplnt]

Any updates regarding the 1900 JFK Blvd co-op? According to Estately the HOA fees for a condo listed is $567/month. This seems really high, but is this because taxes are included since it is a co-op? Anyone know what is it like to live in this building? Thanks!

[jazzy jeff]

I know several people that live in the Kennedy house and I believe there is waiting list about 5 years long. But it is dirt cheap living for the city.