Philadelphia

Historic Naval Ship Faces The Scrap Heap Unless A New Owner Is Found

A venerable old naval ship is seeking a new home. Philadelphia's Independence Seaport Museum has announced that it can't afford the restoration costs to keep USS Olympia, a National Historic Landmark dating back to 1892. The Philadelphia Business Journal reports that the museum is facing $10 to $20 million in restoration costs. Even the costs of stabilizing the ship would run $2 to $5 million. She currently has extensive interior and exterior corrosion of her outer hull but the interior is structurally sound and remarkably intact. The ship requires a new deck as well as repair to her entire waterline repair to an estimated 10% of her underwater hull surface.

The ship was Admiral George Dewey's flagship at the Battle of Manila Bay and is the sole surviving ship from the Spanish-American War. The ship's last mission was to carry the body of the Unknown Soldier from France to the United States in 1921. She's one of a kind, no sister ships were ever built and she is the world's oldest floating steel warship. The Olympia is clearly a national treasure but if she can't find a new home she could face the scrap heap.

The museum website says that the museum and its partners will convene with experts in various fields such as historic preservation, urban planning, maritime history, fundraising and economic development for a two-day summit on March 30-April 1 to find the best path for the ship.

Tags: independence seaport museum, museum exhibit, naval ship, philadelphia, philadelphia independence seaport museum, uss olympia

Sofitel Philadelphia Hotel Sold To Pebblebrook Hotel Trust

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels, Real Estate Developments

We've been watching the Pebblebrook Hotel Trust gobble up hotels left and right lately. The latest is the Sofitel Philadelphia Hotel which it picked up for $87 million. The Center City hotel is in a historic building that once housed the Philadelphia Stock Exchange and is located near the Philadelphia Convention Center. It was converted to a hotel in 2000 and has 306 elegantly appointed guestrooms, including 68 suites. The hotel includes on-site underground parking, a fitness center, a breakfast-only restaurant and the newly renovated bar/lounge Liberté, which serves cocktails, hors d'oeuvres and light dinner fare. In 2009, the Sofitel Philadelphia Hotel operated at approximately 77% occupancy, with an average daily rate of approximately $169. The hotel will continue to be managed by Sofitel.

Last month the Pebblebrook Hotel Trust bought the Sheraton Delfina Santa Monica Hotel in Santa Monica, California for $102.8 million. Other Pebblebrook hotels include the Sir Francis Drake Hotel in San Francisco, the InterContinental Buckhead in Atlanta, the Hotel Monaco in Washington DC. Back in October we mentioned that the Pebblebrook Hotel Trust had picked up the Grand Hotel in Minneapolis for $33 million.

Tags: hotel for sale, hotels, pebblebrook hotel trust, philadelphia, sofitel

The Top of the Touraine, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Looking for an unusual place to dwell? How about an adobe penthouse atop a landmark Philadelphia building?
Today's estate sits on top of The Touraine. Located in Rittenhouse Square, the Touraine was built in 1917 and has been revamped into a luxury building. Atop the building is this incredible bit of the Southwest designed by architect Adolph deRoy-Mark. The home is surrounded by large gardened terraces with city views.

A piece in The Bulletin last year offers more details about the home, including the fact that it has a basement, a foundation dug into the thick room. The home was built in 1981 and the terraces are covered with plants and tall Southwest style grasses. The owners have filled the home with antiques from around the world. The space itself is undeniably quirky but has a feel that really takes it far away from the urban landscape, until you notice that the wide window show skyscraper views. The property is a lease-hold estate property and is listed at $2.9 million.

Gallery: The Top Of The Touraine

Tags: estate of the day, pennsylvania real estate, philadelphia, the touraine

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NYC Named America's Richest City With Over 650,000 Millionaires

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

New York has been named America's richest city with a record 667,000 high-net worth individuals, or people with $1 million or more in investible assets, recorded as living there in 2009. The figure, 18.7% higher than in 2008, comes from the new Metro Wealth Index created by consulting firm Capgemini, the Wall St. Journal reports. New York not only topped the list but demolished the competition, with a sum greater than the total of the next three runners up combined – Los Angeles, Chicago and Washington. The number of millionaires in New York City – some of whom are of course billionaires – is now greater than the entire population of Boston. While growth is up across the board over 2008, only New York, D.C. (#4), Houston (#9) and San Jose (#10) are now above their 2007 or pre-recession levels, with the rest still languishing behind.

Tags: Boston, Chicago, Detroit, Houston, Los Angeles, millionaires, New York, Philadelphia, San Francisco, San Jose, Washington, wealth

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What Will Become of Lynnewood Hall?

by Deidre Woollard (RSS feed) —

Filed under: Estates

One of Pennsylvania's most beautiful old mansions has been in the news recently after an AP story on Lynnewood Hall came out. Once one of America's grandest homes, the mansion is over 100 years old but has not been given the love received by some other older homes of its size. The huge building that once welcomed presidents and the wealthiest and most aristocratic of guests is now an elegant crumbling ruin.

The 110-room mansion is said to be the largest surviving Gilded Age mansion in the Philadelphia, Pennsylvania area. It is built from Indiana limestone and was famous for its large art gallery. The home's collection was on public display at Lynnewood Hall from 1915 to 1940 but in 1940, the collection of more than 2,000 sculptures, paintings, decorative art, and porcelains were donated to the National Gallery of Art. The home also had a ballroom, swimming pool, wine cellars and its own electrical power plant.

Tags: lynnewood hall, pennsylvania, philadelphia

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Bergdoll Mansion, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's home is a piece of Philadelphia history, and 1882 Italianate style brownstone that belonged to the Bergdoll family. The Bergdolls made a fortune by making beer and the 14,000 square foot mansion is a testimony to their status as one of the city's most wealthy families. Grover Cleveland Bergdoll was considered one of the great playboys of the early 1900s and was one of the first private owners of an airplane in the U.S. Philadelphia Reflections reports that he was a draft dodger, his mother hid him in the mansion to prevent his participation in World War I. He eventually ended up in exile in Germany. Even after World War II, when he finally returned he was apprehended and tried, and spent a brief time in jail. The mansion was later turned into apartments.

The home has now been restored with newer plumbing, heating, air conditioning and electric. The details and craftsmanship have been preserved in architectural details like the mosaic tile, ceiling frescoes, carved woodwork, ornamental plaster and more. It has a formal drawing room, huge dining room, library, sunroom and a total of eight bedrooms. There are two cook's kitchens, one for the home cook and one for entertaining. The entire .38 acre property is fenced and has a courtyard that can accommodate eight cars. It is listed at $6.995 million.

Tags: bergdoll mansion, estate of the day, pennsylvania real estate, philadelphia

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New Exhibit Explores Cleopatra's Lost Kingdom

by Bobbie Leigh (RSS feed) —

Filed under: Art

"Cleopatra: The Search for the Last Queen of Egypt," a new exhibition at The Franklin Institute in Philadelphia, is a crash-course on Egypt at the time of Cleopatra. More than just a show of artifacts and stunning statues, it is also a tribute to one of the most ambitious underwater expeditions ever taken. This highly dramatic show where you see statues being lifted from the sea on videos and then see them in front of you in amazingly pristine condition even after being buried for centuries in the murky waters of the Mediterranean is a winner. Your visit starts out with a brief film about the life of Cleopatra where you learn that she was one smart woman, highly educated, a linguist, a diplomat, and even a naval commander. In the galleries, an audioguide narrated by an actress portraying Cleopatra leads you through the various stages of her life (69-30BC) and death. Her suicide was probably brought on by fear of what the Romans would do to her after the death of Mark Antony (her lover after Julius Caesar was murdered) and their join defeat at the Battle of Actium.

Tags: Cleopatra, franck goddio, franklin institute, Hellenistic Egypt, museum, Philadelphia, underwater archaeology

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James Bond's 1964 Aston Martin DB5 at Auction for First Time Ever

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions, Men's Style

One of the coolest and most significant cultural icons of the 20th century, the 1964 Aston Martin DB5 driven by Sean Connery as James Bond in Goldfinger and Thunderball, will be put up for sale for the first time in history at RM Auctions' Automobiles of London event on October 27 where it is expected to fetch over $5 million. Offered by in association with Sotheby's, the famous Aston Martin is one of only two, and the sole remaining, of the original '007' DB5s. With its "rather interesting modifications" as originally conceived by Oscar-award-winning special effects expert John Stears, the car is factory-fitted with the full complement of operational 'Q-Branch' gadgets.

These include machine guns, bullet-proof shield, revolving number plates, tracking device, removable roof panel, oil slick sprayer, nail spreader and smoke screen, all controlled from factory installed toggles and switches hidden in the center arm-rest. Since 1969 the car has been in the collection of Jerry Lee, a radio broadcaster and philanthropist based in Philadelphia. The car is set to make its first 21st century public appearance at the Bond-themed Midsummer Classic / Thunderball concours and black-tie reception scheduled for June 26 at the Stoke Park Club located outside of London, familiar to Bond fans as the site of the first confrontation between 007 and Goldfinger.

Gallery: 1964 Aston Martin DB5 James Bond

Tags: 007, Aston Martin, entertainment, James Bond, London, memorabilia, movie car, movies, Philadelphia, RM Auctions, Sean Connery, Sothebys

More Philadelphia Condos Up For Auction

by Rigel Celeste (RSS feed) —

Filed under: Auctions, Real Estate Developments

After a long and drawn out history of bad luck and bad timing the 10-unit condo project dubbed Cu257 in Philadelphia has finally been finished. Unfortunately the building took so long and went through so much turmoil on its way to completion that it missed its 'window' and interest in it has all but disappeared, leading the bank to put the nine remaining unsold units up for auction next month for a deep discount. The auction will take place at 1pm on May 15th at the Hilton Philadelphia Airport Hotel with minimum bids set at $200,000 for each of the two penthouses (previously listed for $1.2 million) and $95,000 for the 7 condos ($698,400-871,255). If interested sign up and get an information package at maxspann.com.

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Tags: auction, condo, condo auction, condominium, cu257 condo project, max spann, pennsylvania, philadelphia, real estate

Condo Auction Planned In Philadelphia

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

Today's condo auction deal takes us to Philadelphia where 36 units of a major Center City condominium building, the Phoenix will be offered at auction on April 29. The units are mostly one-bedroom units with just a couple two-bedrooms up for bid. Minimum reserve prices will range from $185,000 to $415,000 on units priced between $344,900 to $639,900.

The April 29 date was chosen to allow last-minute buyers to take advantage of the federal tax credits, which require that agreements of sale be executed by April 30.The Philadelphia Inquirer reports that buyers who are eligible for a tax credit (up to $8,000 for qualified first-time buyers or up to $6,500 for repeat buyers who have not purchased a primary residence in less than five years) must close on the sales by June 30.

There area total of 267 units at the Phoenix. The 20-story Georgian Revival-style structure was built in 1925 and served as office space for more than 70 years before being first converted to rental units and then to luxury condos with large windows, gourmet kitchens with stainless steel appliances, granite countertops and hardwood floors. Building amenities include the large atrium with direct access to the Suburban Station Concourse, the Phoenix Salon & Spa , the Tir Na Nog Irish Bar & Grill, Starbucks and the Philadelphia Federal Credit Union. There is also a state-of-the-art fitness center, 24-hour professional concierge service and security, on-premise valet parking, wireless internet throughout common areas, The Phoenix Club, a rooftop terrace, and private dining and conference rooms.

Tags: condo auction, condominiums, philadelphia, phoenix

Steve Wynn Takes Over Philadelphia Casino Project

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Steve Wynn has had great success in Las Vegas and Macau but will his brand of casino luxury play in Philadelphia? Wynn Resorts has announced that it entered into a letter of intent with Philadelphia Entertainment and Development Partners, LP to take over the PDEP casino project planned for the Philadelphia waterfront. The PDEP is a group of investors who joined with the Mashantucket Pequot Tribal Nation to win a casino license in 2006. The tribe runs two Foxwoods casinos in Connecticut but ran into financial trouble last year. The agreement is subject to the approval of the Pennsylvania Gaming Board. Wynn attended the University of Pennsylvania and stated in a release that "Philadelphia has always felt like home to me."

The Philadelphia casino project was originally a Foxwoods project but Foxwoods missed a December deadline to provide detailed architectural and engineering plans. According to the Philadelphia Daily News, the Gaming Control Board fined Foxwoods $2,000 per day for missing the deadline (the fees are now in the six figures). The project developers were facing the possibility of further sanctions, including losing the casino license. Wynn will take majority control of the project and be responsible for financing, building and running the casino.

Tags: casino, foxwoods, philadelphia, philadelphia casino, PhiladelphiaCasino, steve wynn, SteveWynn

Ancient Rome & America - Upcoming Exhibition

by Annie Scott (RSS feed) —

Filed under: Art

The National Constitution Center in Philadelphia, Pennsylvania, is hosting an exhibition comparing the lost world of ancient Rome to modern America -- they're not so different as one might think.

"The profound and pervasive legacy of ancient Rome is deeply embedded in the western culture of today; the lasting effects of Roman domination can be found almost anywhere," said Linda Carioni of Contemporanea Progetti. "They can be seen in our judiciary and monetary systems, in our art and architectural patrimony, in the modern Romance languages, in our alphabet of 26 letters, as well as the calendar of Julius Caesar."

History buffs and pop culture fans alike will be fascinated by the comparisons of our nation to the much-romanticized empire, including artifacts such as:

"Two eagles depicting this classic symbol shared by ancient Rome and America. The American eagle is carved from gilt wood. It was made in 1804 by Samuel McIntire, an important early American architect. Of the Roman eagle, only the bronze head remains. It likely originated from the top of a Roman army military standard."
"Roman busts of Scipio Africanus, Julius Caesar, and Cicero. American busts of George Washington, Benjamin Franklin, and Thomas Jefferson, each portrayed in togas."
"Gladiator/Football helmets. Philadelphia Eagles wide receiver Harold Carmichael's helmet will be on display with a gladiator helmet and four original pieces from the gladiator barracks of an amphitheater in Pompeii – a 'greave' (shin guard), two spearheads, and a dagger."
"Excavated remnants from Pompeii, including silverware, a preserved piece of a wall fresco, and the cast of a man who did not escape the eruption of Mt. Vesuvius."
"Slave collars from ancient Rome and the United States. Both ancient Rome and America prior to 1865 were slave societies. Made in the early 1800s, the slave collar from the US is a rare artifact that can be tied to one man's quest for freedom. Ben, a slave who worked on a farm in Pennsylvania, tried to escape three times, and after the third time, his owner had an iron collar made for him."
"A selection of classical works belonging to the Founding Fathers that helped shape their political thought during the early years of the American republic. John Adams' personal copy of Plutarch's Lives, John Dickenson's personal copy of the works of Roman historian Tacitus, and John Quincy Adams' personal copy of Cicero's De Oratore."
"Two letters from August 1776 exchanged between John and Abigail Adams. In them, Abigail signs her name 'Portia' after the wife of the Roman Senator Brutus. The letters are filled with classical references and ideas of republican virtue."

If you're looking for something to boost your patriotism and encourage deeper thinking about our nation in these troubled times, this multi-million dollar exhibition might be exactly what you need. Perhaps we can learn from the Romans how to create a better future. A video at the end of exhibit regarding the fall of the Roman Empire leaves visitors to "ponder the lessons" of ancient Rome.

The Ancient Rome & America exhibition will be on display from February 19 to August 1, 2010. Visit constitutioncenter.org for more information. Check out Kimpton Hotels' brand new Hotel Palomar for accommodations, and click through the gallery to preview some of the artifacts (images courtesy of The National Constitution Center).

Gallery: Luxist Preview - Artifacts from the Ancient Rome & America Exhibition

Head of an eagle from a Roman military standard

Football helmet worn by Harold Carmichael

Ceremonial Military Helmet in the Shape of Dionysus

Tags: Ancient Rome, AncientRome, art, artifacts, History, Philadelphia

Green Street, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's home is a beautiful classic 1890s townhouse in Philadelphia's Art Museum area. The 12,456-square-foot Victorian single-family home has been restored in a way that celebrates its vintage lines. The home combines the best of older craftsmanship and modern technology. It has a gaslight entrance and a state-of-the-art security system with panic room. This six-story home has a variety of unique features including recreational opportunities provided by an indoor gun range and a billiards room. A rooftop deck offers views over the city. The home has six bedrooms, seven fireplaces and a Victorian rotunda with original stained glass. There is elevator service to all six floors. An outdoor garden includes a brick oven and there is also a separate maid's quarters with its own entrance and kitchen. This home is listed at $5.55 million.

Gallery: Green Street

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Tags: classic home, ClassicHome, estate of the day, EstateOfTheDay, philadelphia, townhouse, victorian

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Collectors "Lapped up" Lehman Art

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

i love liberty Another chapter in the history of Lehman Brothers is now closed. At yesterday's auction, the artwork held by the once mighty financial institution fetched $1.35 million, almost double the $760,800 presale estimate by Freeman's Auctioneers. Nonetheless, it puts hardly a dent in the $250 billion that Lehman owes its creditors.

The auction lasted six hours and featured both fast-paced bidding and generous prices. Unsurprisingly, Roy Lichtenstein's Statue of Liberty print, titled "I Love Liberty," was the top lot at $49,000 (the presale estimate was only $25,000). Robert Indiana's "Polygons" prints brought in $23,750, almost four times the expectation. Every lot moved, the first time we've seen a 100 percent auction (high profile, at least) in a while.

Alasdair Nichol, vice chairman and auctioneer at Freeman's, cites "trophy hunting" as the driver behind Sunday's result. "What's not to like?" he said to Bloomberg News." "It's nice boardroom art, presented nicely, ready to go up on the walls. People lapped it up."

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Tags: art, art auction, art auctions, ArtAuction, ArtAuctions, artwork, auction, auctions, freeman, lehman, lehman bros., lehman brothers, LehmanBros., LehmanBrothers, lichtenstein, philadelphia, roy lichtenstein, RoyLichtenstein, statue of liberty, StatueOfLiberty

Hotel Palomar Opens In Philadelphia

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

The travel business may be slow but new hotels are still opening. The only new hotel scheduled to debut in downtown Philadelphia this year is the Philadelphia Palomar, a Kimpton Hotel. The 230-room boutique hotel is in the building previously known as the Architects Building. The building was gutted and renovated and is a LEED registered luxury hotel. The 20-month, $92.5 million renovation of the 80 year old building was done in a palette of neutral tones with Art Deco flourishes and original artwork from Philadelphia artists.

The hotel includes a fitness center and offers a morning coffee and tea bar and a hosted evening wine hour in the hotel's living room which has a fireplace. Adjacent to the hotel will be Square 1682, Kimpton's first Philadelphia restaurant and bar. Chef Guillermo Tellez serves a New American menu with world flavors. It also opens this week.

[via Philly.com]

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Tags: hotel, hotel opening, hotel palomar, HotelOpening, HotelPalomar, philadelphia