709-17 N Penn St, Philadelphia, PA 19123
Local realty services provided by:ERA Valley Realty
709-17 N Penn St,Philadelphia, PA 19123
$15,500,000
- 2.13 Acres
- Lots / Land
- Active
Listed by:david m cohen
Office:compass pennsylvania, llc.
MLS#:PAPH2441514
Source:BRIGHTMLS
Price summary
- Price:$15,500,000
About this home
**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.
Contact an agent
Home facts
- Listing ID #:PAPH2441514
- Added:975 day(s) ago
- Updated:September 29, 2025 at 01:35 PM
Structure and exterior
- Lot area:2.13 Acres
Schools
- High school:KENSINGTON
- Middle school:GENERAL PHILIP KEARNY
- Elementary school:GENERAL PHILIP KEARNY
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$15,500,000
- Tax amount:$97,259 (2025)
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