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For more information on this property, contact Brett Furman at 610-687-6060 or brett@brettfurman.com

709 N Penn Street
Philadelphia, Pennsylvania PA 19123-3128
Price: $15,500,000
Listing ID PAPH2179112
Status ACTIVE
Acres 2.130

Property Description:

Amazing development opportunity for resale or a long term hold currently being offered at $15,500,000 OR purchase half the development. Buy and build the (47) unit multi unit side of the development or buy and build the (12) luxury townhome side of the development - Inquire about separate pricing. **Seller would purchase back your first two townhomes to help you with pre-sales. **Seller is open to owner financing. **Seller is willing to get creative in order to make this project as lucrative as possible for the developer or get you into the deal with less cash out of pocket. Build 60 units on the water, in Center City, by right - all within zoning code! High density, these numbers just make sense with a projected resale value of $68,000,000. The waterfront site consists of a 47 unit building, 12 luxury townhomes, as well as a separate one-story commercial space plus 35 additional parking spaces in addition to the two car garage townhomes. Can build 84 ft (7 stories is the plan). Approval submitted the first week in April 2022 - referral for CDR + REO approved. Zoning Permits 3-4 Months - Prelim StormWater Approvals obtained. Geotech report, phase 1 and phase 2 environmental test available for review. Billions of dollars of development on the waterfront surrounding this project.

Primary Features

County: Philadelphia
Property Sub Type: Other
Property Type: Commercial Sale
Zoning: CMX3

Interior

Building Total SqFt Source: Estimated
Central Air: yes
Cooling Type: Central A/C
Heating: yes
Heating Type: Other

External

Construction Completed: no
Construction Materials: Masonry
Cooling Fuel: Electric
Foundation Details: Other
Heating Fuel: Other
Hot Water: Other
Lot Dimensions Source: Assessor
Lot Size Dimensions: 140.00 x 624.00
Lot Size Source: Assessor
Lot Size Units: Square Feet
Navigable Water: no
New Construction: yes
Sewer Septic: Public Sewer
Tidal Water: no
Total Drive In Doors: 1
Total Loading Docks: 1
Type of Parking: None
Water Access: no
Water Oriented: no
Water Source: Public
Water View: no

Location

Country: US
MLS Area: 19123 (19123)
Municipality: PHILADELPHIA
Waterfront: no

Additional

Accessibility Features: None
Business Type: Other
Days on Market: 73
Land Use Code: SC
Potential Tenancy: Multiple
Property Condition: Excellent
Total Levelers: 1
Year Assessed: 2023

Financial

Automatically Update Tax Values: yes
Net SqFt: 1
Ownership Interest: Fee Simple
Possession: Settlement
Riparian Rights: no
Sale Type: Standard
Tax Annual Amount: 65492
Tax Assessed Value: 4678700
Tax Data Updated: no
Tax Lot: 9
Tax Year: 2023
Vacation Rental: no

Zoning Info


© 2023 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Keller Williams Philly. Data last updated on Sunday, January 29th, 2023 12:22:20 AM.

Contact - Listing ID PAPH2179112

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Brett Furman

528 East Lancaster Avenue
St. Davids, PA 19087
Phone: 610-687-6060
Phone Alt: 610-687-6060

Data services provided by IDX Broker
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