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Named for its neighbor, the architecturally gorgeous Academy of Music, Academy House is one of Philadelphia’s earlier high-rise residential buildings. Built in the 1970s, it rises 37 stories and has 576 units. Because of its age, buyers can find a variety of fixtures, finishes and floor plans here — most condos have been renovated but it’s a question of how recently. Most of the residences have good to outrightly great views, so floor level tends not to impact resale value. In 2016, prices hovered at $425 – $450 per square foot. Many of the units have good-sized balconies.
As far as amenities, Academy House is a doorman building with a fitness center and indoor pool. The grounds and recently renovated common areas are nicely maintained. While there is a small amount of parking available with the building, most residents who need parking can rent a space at a nearby garage — as this is in the midst of the arts district, there are plenty of parking garages in this area. Notably, this is one of Philadelphia’s no-dogs-allowed buildings. Cats are welcome.
While some buyers may initially find condo fees high, know that the fees include electric, heat, water and the usual maintenance of common areas and the exterior. What this also means is the heat and air conditioning is controlled by the building and not by units inside apartments.
Academy House is very centrally located. It’s not only convenient to the city’s most popular music and theater venues, it’s also readily walkable to the business district. It’s a classic building in the city where values seem to hold up well and demand does not seem to falter even as new condo buildings pop up just around the corner.