Homes for sale - 709-17 N PENN ST, Philadelphia, PA 19123

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William Mercogliano III

themercteam@gmail.com +1(856) 472-9836

$15,500,000

Est. payment - /mo

2.13 Acres Lot

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UPDATED:

10/24/2024 07:10 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Under Contract

Purchase Type For Sale

MLS Listing ID PAPH2179112

Originating Board BRIGHT

Annual Tax Amount $65,492

Tax Year 2023

Lot Size 2.127 Acres

Acres 2.13

Lot Dimensions 140.00 x 624.00

Property Description

Amazing development opportunity for resale or a long term hold currently being offered at $15,500,000 OR purchase half the development. Buy and build the (47) unit multi unit side of the development or buy and build the (12) luxury townhome side of the development - Inquire about separate pricing. **Seller would purchase back your first two townhomes to help you with pre-sales. **Seller is open to owner financing. **Seller is willing to get creative in order to make this project as lucrative as possible for the developer or get you into the deal with less cash out of pocket. Build 60 units on the water, in Center City, by right - all within zoning code! High density, these numbers just make sense with a projected resale value of $68,000,000. The waterfront site consists of a 47 unit building, 12 luxury townhomes, as well as a separate one-story commercial space plus 35 additional parking spaces in addition to the two car garage townhomes. Can build 84 ft (7 stories is the plan). Approval submitted the first week in April 2022 - referral for CDR + REO approved. Zoning Permits 3-4 Months - Prelim StormWater Approvals obtained. Geotech report, phase 1 and phase 2 environmental test available for review. Billions of dollars of development on the waterfront surrounding this project.

Location

State PA

County Philadelphia

Area 19123 (19123)

Zoning CMX3

Interior

Hot Water Other

Heating Other

Cooling Central A/C

Heat Source Other

Exterior

Waterfront N

Water Access N

Accessibility None

Garage N

Building

Foundation Other

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District The School District Of Philadelphia

Others

Tax ID 885879840

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Listed by Jim Onesti • KW Empower

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William Mercogliano III

+1(856) 472-9836

Broker Associate | License ID: 0893537

Broker Associate License ID: 0893537

709-17 N PENN ST Philadelphia, PA 19123

William Mercogliano III

William Mercogliano III

Key Details

Location

Interior

Exterior

Building

Schools

Others

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