Philly Penthouses: What $1M+ Gets You in Different Neighborhoods
Philadelphia’s luxury market is as diverse as the city itself—and nowhere is that more evident than in the penthouse scene.
Whether you’re dreaming of skyline views, historic architecture, or a modern glass tower with resort-style amenities, there’s a penthouse for you in Philly… if you know where to look.
In this neighborhood-by-neighborhood breakdown, we explore what $1M+ can buy you in some of Philadelphia’s most desirable areas—from the cobblestone charm of Old City to the leafy estate feel of Chestnut Hill.
Properties in Rittenhouse Square offer luxury amenties.
Rittenhouse Square
What $1M+ Gets You:
In Philly’s premier luxury district, $1 million is your entry point into high-end condo living—but competition is stiff. Expect a 1–2 bedroom unit in a full-service building with concierge, fitness center, and valet parking. To get larger square footage or sweeping park views, you’ll likely need to stretch into the $1.5M–$3M range.
Example features:
- Floor-to-ceiling windows
- Private balconies
- Custom kitchens and spa bathrooms
- Steps from fine dining, shopping, and the Square itself
Elfreth’s Alley, referred to as the nation’s oldest residential street, dating to 1702, is located in historic old city in Philadelphia, Pennsylvania.
Old City
What $1M+ Gets You:
Old City penthouses tend to blend modern finishes with historic character. For $1M–$1.5M, expect a spacious 2- to 3-bedroom unit in a boutique building—many in converted warehouses or industrial loft spaces with exposed brick and original beams.
Example features:
- Vaulted ceilings
- Private terraces with river or skyline views
- Elevator access and gated parking
- Walkable to galleries, restaurants, and the waterfront
Townhomes are common in Northern Liberties and Fishtown. Larger square footage homes and new constructions are comon in this part of the city.
Waterfront / Northern Liberties / Fishtown
What $1M+ Gets You:
These fast-growing areas offer more square footage and newer construction for the price. Penthouses here may include two levels, multiple outdoor spaces, and floor plans over 2,000 sq ft—often with city or river views.
Example features:
- Rooftop decks with outdoor kitchens
- Smart home systems
- Private garages or deeded parking
- New builds with low maintenance fees and cutting-edge design
Penthouses in Chestnut Hill are rare but luxury is not—expect high-end features and amenities in this part of the city.
Chestnut Hill
What $1M+ Gets You:
Luxury in Chestnut Hill leans traditional. While high-rise penthouses are rare, $1M+ here often gets you a top-floor unit in a historic building or luxury townhome-style condo with scenic views and a more suburban feel.
Example features:
- Wood-burning fireplaces
- Formal dining rooms
- Garden terraces and private elevators
- Quick access to Wissahickon trails and boutique shopping on Germantown Ave
Fitler Square is named after Edwin H. Fitler, a well-regarded 19th-century mayor of Philadelphia. The neighborhood is also home to Fitler Square Park.
Graduate Hospital & Fitler Square
What $1M+ Gets You:
These centrally located neighborhoods feature a mix of low-rise penthouses and rooftop-level condos in newer boutique buildings. The square footage may be more modest, but the finishes and location make up for it.
Example features:
- Bi-level layouts with private rooftop terraces
- Chef’s kitchens with high-end appliances
- Great walkability to Schuylkill River Trail and Center City
- Luxury in a quieter, more residential setting
The Bottom Line
Philadelphia’s penthouse market offers something for every luxury buyer—but what you get for $1M+ varies widely depending on the neighborhood.
Here’s a quick summary:
- Rittenhouse Square: $1M+ buys you a stylish condo with luxury amenities with a smaller footprint
- Old City: $1M+ buys you a spacious loft with historic character
- Fistown/NoLibs: $1M+ buys you a modern, oversized penthouse with views
- Chestnut Hill: $1M+ buys you a quiet, refined condo with traditional charm
- Fitler/Grad Hospital: $1M+ buys you a boutique unit with rooftop access and walkability
Pro Tip: The best units don’t always hit the public market.
If you’re shopping in the $1M+ range, work with an agent who has deep local connections and knows where to look before listings go live.
Get in Touch
Shauli David
Lead REALTOR®
sdavid@elfantwissahickon.com
215.605.0917
