2.13 Acres Lot
2.13 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2441514
HOA Y/N N
Annual Tax Amount $97,259
Tax Year 2025
Lot Size 2.127 Acres
Acres 2.13
Lot Dimensions 140.00 x 624.00
Property Sub-Type Land
Source BRIGHT
Property Description
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.
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning CMX3
Exterior
Utilities Available Natural Gas Available
Water Access Y
View Panoramic
Garage N
Building
Lot Description Bulkheaded, Level
Sewer Public Sewer
Water Public
Schools
Elementary Schools General Philip Kearny
Middle Schools General Philip Kearny
High Schools Kensington
School District The School District Of Philadelphia
Others
Tax ID 885879840
Ownership Fee Simple
Acceptable Financing Negotiable
Listing Terms Negotiable
Financing Negotiable
Special Listing Condition Standard
Schools and Properties Nearby
- 9
Masterman Julia R Secondary School
Public | 5 - 12
- 8
Meredith School
Public | KG - 8
- 7
Christopher Columbus Charter School
Public | KG - 8
- 7
Folk Arts-Cultural Treasures Charter School
Public | KG - 8
- 7
General George A. McCall School
Public | KG - 8
- 7
Laboratory Charter School
Public | KG - 8
- 7
Environment Community Opportunity (Eco) Charter Sc
Public | KG - 5
- 6
Albert M. Greenfield School
Public | KG - 8
- 6
Independence Charter School
Public | KG - 8
- 6
D. Newlin Fell School
Public | KG - 8
- 6
Knowledge a to Z Charter School
Public | KG - 4
- 5
Russell Byers Charter School
Public | PK - 6
- 5
Philadelphia Performing Arts Charter School
Public | KG - 8
- 5
Abram Stockton Jenks School
Public | KG - 4
- 5
Alliance for Progress Charter School
Public | KG - 8
- 5
Eliza Butler Kirkbride School
Public | KG - 8
- 5
Young Scholars Charter School
Public | 5 - 8
- 5
Leap Academy University Charter School
Public | KG - 12
- 5
Conwell Russell Middle School
Public | 5 - 8
- 5
Ad Prima Charter School
Public | KG - 8
- 4
Mastery Charter High School
Public | 7 - 12
- 4
Amy at Martin
Public | 6 - 8
- 3
Mariana Bracetti Academy Charter School
Public | 6 - 12
- 2
The Sd of Philadelphia Virtual Academy
Public | 6 - 12
- 1
World Communications Charter School
Public | 6 - 12
- 1
Penn Treaty
Public | 6 - 12
- 0
Student Education Center & Delaware Valley High School
Private | 8 - 12
- 0
Wakisha Charter School
Public | 6 - 8
- 0
Pyne Point Middle School
Public | 7 - 8
- 8
Science Leadership Academy
Public | 9 - 12
- 8
Academy at Palumbo
Public | 9 - 12
- 7
Carver High School
Public | 9 - 12
- 7
Bodine William W High School
Public | 9 - 12
- 6
Dr. Charles E. Brimm Medical Arts High School
Public | 9 - 12
- 5
Creative and Performing Arts
Public | 9 - 12
- 5
Philadelphia Electrical & Tech Chs
Public | 9 - 12
- 5
Parkway-Center City
Public | 9 - 12
- 5
Philadelphia Military Academy at Elverson
Public | 9 - 12
- 4
Franklin Lc
Public | 9 - 12
- 4
Constitution High School
Public | 9 - 12
- 1
South Philadelphia High School
Public | 9 - 12
- 1
Dobbins Avt High School
Public | 9 - 12
- 1
Benjamin Franklin High School
Public | 9 - 12
- 1
Charter High School for Architecture and
Public | 9 - 12
- 1
Furness High School
Public | 9 - 12
- 1
Kensington Creative & Performing Arts High School
Public | 9 - 12
- 1
Kensington Health Sciences Academy
Public | 9 - 12
- 1
Kensington International Business High School
Public | 9 - 12
- 1
Kensington Urban Education
Public | 9 - 12
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty