Real estate update: 2116 Chestnut

Real estate update: 2116 Chestnut
Charles Mostoller for Metro

The Rittenhouse neighborhood’s cluster of posh buildings have long held a spot high up on the list of the city’s ritziest, even as high-price peers have blossomed on the banks of both rivers, and across neighborhoods like Old City and Callowhill.

But as desirable as those addresses may be, the area can feel stodgy. That’s especially true given the dated vibes of some of the area’s most visible buildings (and, at times, their residents).

The developers of 2116 Chestnut, the neighborhood’s first new residential high-rise in years, tried to go in a different direction, attracting a younger, millennial crowd with a modern look and fresher-than-average amenities.

The 34-story tower’s 321 units are predominantly one-bedrooms and studios, to appeal to young professionals, ranging from around $1,700 a month to over $4,000 for the largest two-bedroom. And though the building’s exterior might lack the character of the rowhouses below, its glassy design means sunlight flowing through floor-to-ceiling windows.

Drawn-out opening

The building still hasn’t reached a steady state: When welcoming residents last year, it did so on a staggered basis, all while the initially publicized midsummer opening of its ground-floor retail came and went.

That 9,000-square-foot retail space was slated to house Chicago-based modern Mexican restaurant Mercadito, plus an attached, speakeasy-inspired cocktail bar called Double A. But it’s still unfinished, and an opening timeline is uncertain as the company behind the concepts has seen recent expansions to New York and Miami go south.

To add to that uncertainty, the entire property was put up for sale earlier this year. Naturally, that carries some likelihood of changes for current or prospective residents, but building representatives insist that no notable differences are on the horizon.

Millennial amenities

The extras at 2116 begin with the usual for a premium-priced building: a fitness center, space for meetings and parties, an attached garage. But, in line with the developers’ bid to attract young professionals, they extend to more of-the-moment conveniences, like indoor bike storage, a deck with a green roof and a hot tub and even a dog run for residents who don’t want to schlep to the park. And, of course, that attached garage is a car share location.