LOT SIZE 2.130 acres
MLS#PAPH2441514
STATUSACTIVE
PROPERTY TYPELand - Lot/Land
SCHOOLTHE SCHOOL DISTRICT OF PHILADELPHIA
Property Description
**Amazing Development Opportunity in Center City** Discover an unparalleled development opportunity at 709-17 North Penn Street, perfectly positioned on the waterfront in Center City. This prime location offers a versatile investment for either resale or long-term hold, currently available for $15,500,000. Alternatively, you can choose to purchase half of the development, with options to buy and build the (47) unit multi-unit side or the (12) luxury townhome side. Separate pricing is available upon inquiry. **Flexible Purchase Options:** - **Seller Incentives:** The seller is willing to purchase back your first two townhomes to assist with pre-sales, offering a unique advantage to developers. - **Owner Financing:** The seller is open to owner financing, providing flexibility to get you into the deal with less cash out of pocket. - **Creative Solutions:** The seller is committed to making this project as lucrative as possible, offering creative solutions tailored to your needs. **Development Highlights:** - **By-Right Build:** Construct 60 units on the water, fully compliant with zoning codes. - **Projected Resale Value:** Estimated at $68,000,000, this high-density project is a sound investment. - **Comprehensive Site Plan:** The waterfront site includes a 47-unit building, 12 luxury townhomes, a separate one-story commercial space, and 35 additional parking spaces, alongside two-car garage townhomes. - **Building Specifications:** The plan allows for construction up to 84 ft (7 stories). **Approvals and Reports:** - **Zoning and Permits:** Approval submitted in April 2022, with CDR + REO approved. Zoning permits are expected within 3-4 months. - **Environmental and Geotechnical Reports:** Preliminary StormWater Approvals obtained, with geotech report, phase 1, and phase 2 environmental tests available for review. Join the wave of billions of dollars in development on the waterfront surrounding this project. This is a rare opportunity to invest in a high-demand area with significant growth potential. Contact us today to explore this exceptional development opportunity and discuss how we can make it work for you.
Property Features
Property Type: Land - Lot/Land
Lot Size: 2.13 Acres
Taxes: $97,259
Feature Descriptions
Lot: Bulkheaded, Level
Lot Dimensions: 2.13 Acre(S)
Municipality: PHILADELPHIA
Sewer: Public Sewer
Special View Info: Panoramic
Utilities: Natural Gas Available
Water: Public
Local Schools
High School: KENSINGTON
Middle School: GENERAL PHILIP KEARNY
Elementary School: GENERAL PHILIP KEARNY
School District: THE SCHOOL DISTRICT OF PHILADELPHIA
Listed By / Shown By
Listed By
Agency Name: Compass Pennsylvania, LLC
Agency Phone: 6109470408
Shown By
Agent Name: The Jesse Hersh Team
Agent Phone: (717) 475-0378
Agency Title: Berkshire Hathaway HomeServices Homesale Realty
First AmericanEstimate Your Payment
Estimated Payment
$ 47,122.03 per month $34,496.28 Principal & Interest $8,104.92 Property Tax $4,520.83 Homeowner's Insurance
Corporate Office - 215 S Centerville Rd. Lancaster, PA 17603
709 17 N Penn Street | MLS# PAPH2441514
This land located at 709 17 N Penn Street, Philadelphia, PA 19123 is currently listed for sale with an asking price of $15,500,000. The property has approximately 2.13 Acres. 17 N Penn Street is located within the THE SCHOOL DISTRICT OF PHILADELPHIA school district. Search Philadelphia real estate on www.jessehershteam.com today.