709-17 N PENN ST Under Contract Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19123
Key Details
Property Type Commercial
Sub Type Other
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID PAPH2179112
Annual Tax Amount $65,492
Tax Year 2023
Lot Size 2.127 Acres
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.
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning CMX3
Interior
Hot Water Other
Heating Other
Cooling Central A/C
Exterior
Water Access N
Building
Foundation Other
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Special Listing Condition Standard