709 N Penn Street

PHILADELPHIA, PA 19123

  • 92,641 Sqft
  • 92641
    Sqft(Lot)
$15,500,000

Description

**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.

  • Property Type

    Land

  • County

    PHILADELPHIA

  • Style

    Land

  • AD ID

    48642213

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Property Details

  • Water/Sewer

    • Water Source : Public

  • Exterior Features

    • Utilities: Natural Gas Available

    Utility Features

    • Sewer: Public Sewer

  • Lot Information

    • Lot Size: 92,641
    • Dimensions: 140.00 x 624.00
    • Lot Size (Acres): 2.13
    • Main Square Feet: 92,641

    Property Information

    • Total Lot SQ ft: 92,641
    • View: Panoramic
    • Financing: Negotiable
    • Appx. Lot Dimensions: 140.00 x 624.00
    • Total Acreage: 2.13

  • Listing Information

    • Possession: Negotiable
    • Days Of Market: 1

  • Tax Information

    • Annual Tax: $97,259
    • Tax Year: 2025
    • Total Taxes Payment Frequency: Annually

    Possession

    • Negotiable

    Assessment Information

    • Taxes Assessment Amount: $6,948,100

  • Multi-Unit Information

    • Acceptable Financing: Negotiable

    Homeowners Association Information

    • Direction: Spring Garden St to N Delaware Ave to N Penn Ave.

  • School Information

    • Elementary School: GENERAL PHILIP KEARNY
    • Middle OR Junior School: GENERAL PHILIP KEARNY
    • High School: KENSINGTON
    • School District: THE SCHOOL DISTRICT OF PHILADELPHIA

    Utility Information

    • Natural Gas Available
    • Water Source: Public
    • Sewer: Public Sewer

    Location Information

    • Direction: Spring Garden St to N Delaware Ave to N Penn Ave.
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Data provided by Bright MLS. Property information is for the users personal, non-commercial use. Information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties that appear on the website may no longer be for sale, and may be under contract or sold. ©2025 Bright MLS, All Rights Reserved. Information is reliable but not guaranteed.

BuyOwner last updated this listing 02/22/2025 @ 17:09

  • MLS: PAPH2441514
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Land, with 0 bedrooms which is for sale, it has 92,641 sqft, 92,641 sized lot, and 0 parking. A comparable Land, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of PHILADELPHIA , in zip code 19123, this PHILADELPHIA County Land are nearby neighborhoods.