Arthaus Achieves Over $42 Million in Sales in the First Half of 2026, Claiming 32% of Philadelphia's Luxury Condo Market

Philadelphia's Premier High-Rise Community Closes First Penthouse Sale at $6.62M and Outpaces Every Other Building in the City Above $1.5 Million

PHILADELPHIA, July 21, 2026 /PRNewswire/ -- Arthaus, Carl Dranoff's 47-story ultra-luxury condominium tower on the Avenue of the Arts, has recorded more than $42 million in sales since January 1, 2026. This impressive figure represents 32% of all closed condo transactions in Philadelphia above $1.5 million, more than any other building in the city. The milestone underscores Arthaus's standing as Philadelphia's most sought-after luxury address and reflects surging demand at the top end of the city's residential market.

Since opening to residents in 2022, Arthaus has sold 62 of its 107 residences, representing more than $155 million in total sales volume and the most robust sold inventory of any new condominium project in the city. With 45 residences still available across 8 distinctive floor plans, Arthaus continues to offer buyers a rare combination of choice and luxury in the heart of the city.

The sales momentum accelerated meaningfully in the first half of 2026, with 14 deals settled and three more pending. Buyers have been drawn from across the region and beyond, including Brooklyn, Virginia, Kiawah Island, Cape Cod, and upstate New York; a testament to Arthaus's appeal as a destination address.

Among the year's most significant transactions was the sale of a 41st-floor penthouse — one of three available at Arthaus — which closed in May 2026, despite never being publicly listed, at $6.62 million. The full-floor, three-bedroom, four-and-a-half-bathroom residence spans 4,284 square feet and was purchased by a local buyer relocating from Philadelphia's suburbs.

The sale mirrors Dranoff's long-standing strategy of preserving penthouse inventory until the building's broader market value has been established. A second penthouse — a 4,378-square-foot, three-bedroom, four-and-a-half-bathroom residence spanning the full 42nd floor and listed at $7.25 million — remains available. Designed by Philadelphia-based luxury designer Jimmy DeLaurentis and featuring 360-degree views of the city and 11-foot ceilings, the residence represents the pinnacle of what Arthaus has to offer.

"Arthaus is in a category of its own, and the market is confirming that," said Carl Dranoff, Developer of Arthaus and President and CEO of Dranoff Properties. "When buyers step into this community, they are captivated by its uncompromising design, amenities, views, and a location at the intersection of Philadelphia's cultural life. I've built some of Philadelphia's most iconic addresses, and what's happening at Arthaus right now is unlike anything I've seen. The city is on fire, and Arthaus is at the center."

Arthaus's exceptional sales performance also benefits from its position on the pilot block of AveArts 2.0, the $150 million, multi-year transformation of South Broad Street into one of the world's greatest tree-lined, cultural boulevards. In June 2026, Avenue of the Arts, Inc. celebrated the completion of Phase 1A, a new landscaped median featuring native trees and plantings, a rainwater-collection cistern, and curated lighting directly in front of Arthaus. The transformation of the corridor has been repeatedly cited by buyers as a meaningful draw.

In addition to unparalleled residences, Arthaus features more than 36,000 square feet of amenity space across two floors, including Pennsylvania's largest residential indoor lap pool, a state-of-the-art fitness center, a rooftop community garden and greenhouse, 24-hour concierge, valet parking, and a resident lounge with a chef's kitchen. Every home is also a corner unit with floor-to-ceiling windows and a private balcony.

With 45 residences still available and decorated model homes open daily, there has never been a more compelling moment to buy at Arthaus. Two-bedroom, two-bathroom residences start at $1.35 million, and three-bedroom, three-and-a-half-bathroom residences start at $2.5 million. For appointments, call 215.375.7200 or visit arthausphila.com.

About Arthaus

Arthaus is Philadelphia's premier ultra-luxury condominium tower, developed by Carl Dranoff of Dranoff Properties. Located at 301 S. Broad Street on the Avenue of the Arts, the 47-story, 107-residence building opened in 2022 and comprises 14 distinctive floor plans, more than 36,000 square feet of private amenity space, and unmatched views of Center City Philadelphia. Arthaus represents the pinnacle of Dranoff's legacy of building Philadelphia's most coveted high-rise addresses, including 10 Rittenhouse, One Riverside, Two Liberty, and Symphony House.

Media Contact

Liam McCaffery
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(908) 956-1664

SOURCE Arthaus Condominiums