#PAPH2489328, Karen Rachel Ehrlich, Listing office: Philadelphia Homes
Property details
About 709 N Penn St
**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.
Highlights
Home typeVacant Land
StatusActive
(ACTIVE)
(ACTIVE)
Lot size2.13 Acres
MLS #PAPH2441514
ViewPanoramic
Summary
- View: Panoramic
- List Price: $15,500,000
- Lot: Seawall, Level
- Directions: Spring Garden St to N Delaware Ave to N Penn Ave.
- Municipality: Philadelphia
- Lot Size: 2.13 Acres
- MLS Number: PAPH2441514
- MLS Name: BRIGHT
- Office Name: Compass Pennsylvania, LLC
- Office Phone: (610) 947-0408
- Office Email: marianne.dillon@compass.com
- Listing Agent: david m cohen
- Agent Phone: (215) 260-5860
- Agent Email: davidmilescohen@gmail.com
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/18/2025, 12:45:40 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
Nearby schools
2
Joseph Pennell Elementary School
Public District KG-5
0.5 mi
•1800 Nedro Ave
4
Prince Hall Elementary School
Public District KG-5
0.7 mi
•6101 N Gratz St
4
Mastery Charter School John Wister Elementary School
Public Charter KG-5
0.7 mi
•67 E Bringhurst St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $35,808. Residents of Philadelphia, PA typically earn less than $<35k each year. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
48%
<35k
45%
35k-100k
6%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
47%
Single, No Kids
40%
Single, with Kids
6%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
26%
<11 yrs old
11%
12-17 yrs old
25%
18-34 yrs old
31%
35-64 yrs old
7%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Pro Boxing
Where do the neighbors shop?
Foot Locker
Burlington
H&M
Where do the neighbors go to eat?
Little Caesars
White Castle
Boston Market
What do the neighbors drive?
Dodge
Kia
Honda
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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Frequently asked questions
About 709 N Penn St
The listing price of 709 N Penn St property is $15,500,000.
The property 709 N Penn St is land located in Philadelphia, Pennsylvania, 19123.
Active Listing: 709 N Penn St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 709 N Penn St are: Joseph Pennell Elementary School (GreatSchools Rating 2/10), Prince Hall Elementary School (GreatSchools Rating 4/10), Mastery Charter School John Wister Elementary School (GreatSchools Rating 4/10), Mastery Charter School-Francis D. Pastorius Elementa (GreatSchools Rating 3/10), General Louis Wagner Middle School (GreatSchools Rating 4/10), Roosevelt Elementary School (GreatSchools Rating 2/10), Central High School (GreatSchools Rating 9/10), Imhotep Institute Chs (GreatSchools Rating 4/10), Girls High School (GreatSchools Rating 5/10).
The property 709 N Penn St is 2.13 acres.
This home is located at 709 N Penn St in Philadelphia, PA and zip code 19144 in the Germantown / Chestnut Hill neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since February 18, 2025 and is currently priced at $15,500,000.
The number of listings in Philadelphia, PA increased by 36.5% between May and June 2025. In June 2025 median list price was $292,873 and the average listing age was 90 days.
From Rocket Homes Real Estate and based on county public records data.