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David Cohen

709-17 N Penn St

$15,500,000 709-17 N Penn St, Philadelphia, PA 19123
**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.
  • For Sale
    Status

Features & Amenities

Area & Lot

  • Status: For Sale
  • Lot Size: 2.13 Acres
  • MLS® ID: PAPH2441514
  • Type: Land
  • Water Frontage: River Front
  • View Description: Panoramic
  • Elementary School:GENERAL PHILIP KEARNY
  • Middle School: GENERAL PHILIP KEARNY
  • High School: KENSINGTON
  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA

Exterior & Building

  • Water Source: Public
  • Utilities: Natural Gas Available
  • Lot Features: Waterfront
  • Sewer: Public Sewer

Financial

  • Sales Price: $15,500,000
  • Real Estate Tax: $97,259/yr
  • Zoning: Commercial Mixed Use
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Schedule a Showing

I would love to show you this beautiful property. Please select your preferred date and time below. I will be in touch shortly to confirm your appointment.

Thank you for your interest in 709-17 N Penn St, Philadelphia, PA 19123. We are reviewing your request and will be in touch shortly!

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709-17 N Penn St

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