Designed by renowned architect Robert A.M. Stern, 10 Rittenhouse Square is the only new construction luxury residential building on Rittenhouse Square.
Announced with great excitement and anticipation, sales of the über luxurious offering were ultimately disappointing due to the historic economic recession. In 2010, the owner of the building was foreclosed on by junior lenders from a regional pension fund. The new owners then defaulted on a $240 million senior mortgage. With more than two-thirds of the building’s residences left to sell, owner iStar Financial Inc. sought the residential property marketing expertise of Munroe Creative Partners.
Under the unifying mantra “Now is the Time,” Munroe crafted an irresistible proposition, positioning the property as a timeless, sound investment that offered the ultimate in luxury and sophistication. The high profile, high-impact campaign was executed across print and digital advertising, direct mail and email marketing.
10 Rittenhouse is quite possibly the best turnaround success story in the Philadelphia residential real estate market. Less than one year after Munroe Creative Partners joined the team, the property was 100% sold. This bright, spacious and elegant high-rise, featuring spectaculars views, is now finally seen by the public, as it always should have been—the pinnacle of sophisticated living in Philadelphia.