Description
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...**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.
Listing Agent
![David Cohen]()
d.cohen@compass.comP: (215)-260-5860
Property Details for 709 North Penn Street
Property Details for 709 North Penn Street
| Status | Active |
|---|---|
| MLS # | PAPH2441514 |
| Days on Market | 356 |
| Taxes | $97,259 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Land |
| MLS Type | Land / Fee Simple |
| Year Built | - |
| Lot Size | 2.13 AC |
| County | Philadelphia County |
Location
Building Information for 709 North Penn Street
Payment Calculator
$83,649 per month
30 year fixed, 6.15% Interest
$75,544
$8,105
$0
Property Information for 709 North Penn Street
- School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
- School District County ID: 300200397108
- SchoolDistrictSource: Listing Agent
- Elementary School: GENERAL PHILIP KEARNY (PHILADELPHIA PA)
- ElementarySchoolSource: Listing Agent
- Middle Or Junior School: GENERAL PHILIP KEARNY (PHILADELPHIA PA)
- MiddleSchoolSource: Listing Agent
- High School: KENSINGTON (PHILADELPHIA PA)
- HighSchoolSource: Listing Agent
- County: PHILADELPHIA
- MLS Area: 19123 (19123)
- Water View: No
- Water Access: Yes
- Water Oriented: Yes
- Navigable Water: Yes
- Water Body Type: River
- Water Frontage In Feet: 1.0
- Tax Year: 2025
- Tax Assessed Value: $6,948,100
- Year Assessed: 2025
- County Tax: $0
- Improvement Assessed Value: $0
- City Town Tax: $42,793
- Clean Green Assessed: No
- Land Use Code: SC
- Zoning: CMX3
- Zoning Dscrp: Commercial Mixed Use
- Tax Lot: 9
- School Tax: $54,466
- Automatically Update Tax Values Y/N: Yes
- Possible Use: Development
- Farm Land Preservation Y/N: No
- Lot Size Source: Assessor
- Lot Size Dimensions: 140.00 x 624.00
- Lot Dimensions Source: Assessor
- Lot Features: Bulkheaded, Level
- Current Use: Vacant
- Parcel ID: 1417557
- Additional Parcels: No
- Utilities: Natural Gas Available
- Water Source: Public
- Sewer Septic: Public Sewer
- List Agent AOR: Tri-County Suburban REALTORS
Property History for 709 North Penn Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Feb 18, 2025 | Listed (Active) BRIGHT #PAPH2441514 | $15,500,000 | — |
| Oct 1, 2022 | Expired BRIGHT #PAPH2105000 | — | |
| Apr 29, 2022 | Expired BRIGHT #PAPH943316 | — | |
| Apr 14, 2022 | Withdrawn BRIGHT #PAPH943316 | — | |
| Apr 14, 2022 | Listed (Active) BRIGHT #PAPH2105000 | $15,500,000 | — |
| Feb 1, 2021 | Listed (Active) BRIGHT #PAPH943316 | — | |
| Jan 25, 2021 | Temp Off Market BRIGHT #PAPH943316 | — | |
| Oct 7, 2020 | Listed (Active) BRIGHT #PAPH943316 | $15,000,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 02/18/2025 | Listed (Active) BRIGHT #PAPH2441514 | $15,500,000 |
| 10/01/2022 | Expired BRIGHT #PAPH2105000 | — |
| 04/29/2022 | Expired BRIGHT #PAPH943316 | — |
| 04/14/2022 | Withdrawn BRIGHT #PAPH943316 | — |
| 04/14/2022 | Listed (Active) BRIGHT #PAPH2105000 | $15,500,000 |
| 02/01/2021 | Listed (Active) BRIGHT #PAPH943316 | — |
| 01/25/2021 | Temp Off Market BRIGHT #PAPH943316 | — |
| 10/07/2020 | Listed (Active) BRIGHT #PAPH943316 | $15,000,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 709 North Penn Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
General Philip Kearny PublicK to 8 | ||
Franklin Benjamin High School Public9 to 12 | ||
Bodine William W High School Public9 to 12 | ||
Amy At Martin Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Neighborhood Map and Transit
Similar Homes
Similar Sold Homes
Explore Nearby Homes
- Avenue of the Arts North Homes for Sale
- Callowhill Homes for Sale
- Center City Homes for Sale
- East Poplar Homes for Sale
- Fishtown Homes for Sale
- Lower North Philadelphia Homes for Sale
- Ludlow Homes for Sale
- Northern Liberties Homes for Sale
- Old City Homes for Sale
- Old City-Society Hill Homes for Sale
- Olde Kensington Homes for Sale
- Penn's Landing Homes for Sale
- River Wards Homes for Sale
- West Poplar Homes for Sale
- Yorktown Homes for Sale
- Philadelphia Homes for Sale
- Camden Homes for Sale
- Pennsauken Homes for Sale
- Woodlynne Homes for Sale
- Collingswood Homes for Sale
- Merchantville Homes for Sale
- Gloucester City Homes for Sale
- Bala Cynwyd Homes for Sale
- Haddon Township Homes for Sale
- Cherry Hill Homes for Sale
- Palmyra Homes for Sale
- Westmont Homes for Sale
- Yeadon Homes for Sale
- Oaklyn Homes for Sale
- Merion Station Homes for Sale
- 19125 Homes for Sale
- 19107 Homes for Sale
- 19108 Homes for Sale
- 19121 Homes for Sale
- 19122 Homes for Sale
- 19130 Homes for Sale
- 08102 Homes for Sale
- 19102 Homes for Sale
- 19106 Homes for Sale
- 08105 Homes for Sale
- 19103 Homes for Sale
- 08103 Homes for Sale
- 19109 Homes for Sale
- 19147 Homes for Sale
- 19133 Homes for Sale
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.
Based on information from one of the following Multiple Listing Services: BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.