709 N Penn Street 17 Philadelphia, PA $ 15,500,000
709 N Penn Street 17
$ 15,500,000
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709 N Penn Street 17

Philadelphia, PA, 19123
$ 15,500,000
Baths0.0

Monthly Estimate*

$ 95,436

709 N Penn Street 17, Philadelphia, PA 19123 - Image 1
709 N Penn Street 17, Philadelphia, PA 19123 - Image 2
Studio

Lots and Land for sale in Philadelphia, PA

for $15,500,000. The lot size is 2.13.

**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.

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Lots and Land Active

Price

$ 15,500,000

Bedrooms

Studio

Property Type

Lots and Land

Taxes

$ 97,259

Style

Vacant

Lot Size

2.13

Town/City

Philadelphia

County/Region

Philadelphia

MLS | Web ID

PAPH2441514

Features
General
Sewer Public Sewer
Utilities Natural Gas Available
Possession Negotiable
Zoning CMX3
School District THE SCHOOL DISTRICT OF PHILADELPHIA
View Panoramic
Property Subtype Land
Tax Year 2025
Current Use Vacant
Ownership Fee Simple
Municipality PHILADELPHIA
County PHILADELPHIA
Property Type Land
HOA N
Possible Use Development
Water Access Y/N Y
Status ACTIVE
Directions Spring Garden St to N Delaware Ave to N Penn Ave.
City PHILADELPHIA
MLS Area 19123 (19123)
Lot Size Units Square Feet
Lot Size Square Feet 92641.00
Tax Annual Amount 97259.0
Clean Green Assessed Y/N N
Price Per Sq Ft Total AG 167.31
Acceptable Financing Negotiable
Additional Parcels Y/N N
Vacation Rental Y/N N
Standard Status Active
Tax Lot 9
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Exterior
Lot Features Bulkheaded Level
Water Source Public
Water View Y/N N
Lot Dimensions 140.00 x 624.00
Lot Size Acres 2.13
Water Body Type River
Lot Size Source Assessor
Waterfront Y/N Y
Navigable Water Y/N Y
Water Oriented Y/N Y
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Internal Only
Street Number 1 709
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* Excluded Features
List By
Compass Pennsylvania, Llc

Broker

davidmilescohen@gmail.com

Email

Affordability Calculator

$103,541
Per Month
92%
8%
0%
Monthly Principal & Interest
$95,436
Monthly Property Taxes
$8,105
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4897856 Elementary School
4964998 Middle School
Kensington High School High School
Pricing History
DatePricePrice ChangeDescription
2/18/2025$15,500,000 Listed Price

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709 N Penn Street 17, Philadelphia, PA, 19123 is a Lots and Land for sale at $15,500,000 with a lot size of 2.13. 709 N Penn Street 17 is a studio with 0.0 baths. The property's zip code is 19123 which is in Philadelphia, PA