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MLS: #PAPH2441514, Listed By: david cohen, Compass Pennsylvania, LLC, Source:Bright MLS

709 N Penn Street

PHILADELPHIA, PA 19123
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Acres2.13

Acres(Lot)

**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 i nto 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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Detail Ic Property Details

Property Type : Land

Price : $15,500,000

AD Id : 70758832

MLS Id : PAPH2441514

Lot Size : 2.13 Acres(Lot)

County : PHILADELPHIA

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Feature Features

  • Heating & Cooling

    Water front: 1

  • Lot Information

    Lot Dimensions: 140.00 x 624.00 Lot Size Acres: 2.13 Lot Size Source: Assessor Lot Size Square Feet: 92641 Lot Description: Level, Waterfront

  • Listing Price Information

    Listing Price: $15500000

  • Tax Information

    Parcel Number: 885879840 Tax Lot: 9 Tax Year: 2025 Annual Tax: $97259

  • School Information

    Elementary School: GENERAL PHILIP KEARNY
    Junior High School: GENERAL PHILIP KEARNY
    Senior High School: KENSINGTON
  • Utility Information

    Natural Gas Available
  • Location Information

    Direction: Spring Garden St to N Delaware Ave to N Penn Ave. WaterSource: Public
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Nearby Home Value

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417 N Chris Columbus Bo.., Philadelphia, PA, 19123 $13,000,000 -- -- -- 0.57 Acre(Lot)
1121 N Front Street, Philadelphia, PA, 19123 $3,500,000 -- -- -- 0.19 Acre(Lot)
705 N American Street, Philadelphia, PA, 19123 $750,000 -- -- -- 0.06 Acre(Lot)
335-337R Poplar Street, Philadelphia, PA, 19123 $1,200,000 -- -- -- 0.04 Acre(Lot)
619 W Girard Avenue, Philadelphia, PA, 19123 $749,000 -- -- -- 0.04 Acre(Lot)
1019 Buttonwood Street, Philadelphia, PA, 19123 $302,500 -- -- -- 0.02 Acre(Lot)
1200 W Girard Avenue, Philadelphia, PA, 19123 $850,000 -- -- -- 0.08 Acre(Lot)
838-840 N 12th Street, Philadelphia, PA, 19123 $599,985 -- -- -- 0.02 Acre(Lot)
936 N 13th Street, Philadelphia, PA, 19123 $89,900 -- -- -- 0.01 Acre(Lot)

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ByOwner last updated this listing 06/23/2026 @ 17:27

MLS: PAPH2441514 LISTED BY: david cohen, Compass Pennsylvania, LLC 610-947-0408 SOURCE: Bright MLS

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