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    2625-33 W Jefferson Street

    PHILADELPHIA, PA 19121
    • $1,260,000
    • STATUS: Active
    • ON SITE: 50 days
    • ID#: PAPH2015034
    Price Reduced
    $1,260,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    2021
    County:

    School Ratings & Info

    Description

    Jefferson Quarters presents one of the last, most substantial opportunities to build a multifamily development with a full 10 year tax abatement in one of Philly's fastest growing submarkets - Brewerytown. This is arguably the best located boutique development site in the neighborhood, commanding the corner of Bailey and Jefferson Streets, overlooking the historic Jefferson Street Ballparks and Athletic Square, a community favorite and an outstanding natural amenity for future building residents to enjoy. The irreplaceable park setting cannot be copied and Ownership has designed a Property that will endure for generations as a 25-unit trophy apartment building with underground parking and spacious floor plans. As the submarket continues to mature, the exit strategy could be through condo conversion several years down the road, specifically with such spacious units and dedicated parking. 1-2-3 bedroom floor plans add variety and flexibility and most units have private outdoor space via balconies, topped off by a common rooftop terrace overlooking the park with unparalleled skyline vistas. This boutique elevator building will be the crown jewel of Brewerytown - located within walking distance to Fairmount Park, the nation's largest urban park, and Girard Avenue's commercial corridor - loaded with authentic destination dining, breweries, cafes and shops. The building has been optimized to take advantage of rising demand with spacious residences, outdoor spaces and the ultimate urban luxury - parking. Alternatively the site can be developed as quadplex buildings through a deconsolidation of the current lot - to build five (5) quads totaling twenty (20) units - a slightly faster/more economical development approach. Over the counter zoning can easily be obtained. The current plans are approved and much of the entitlement process has been completed by Ownership: new owner will be responsible for obtaining building permits, paying housing bonus (240K) and applying for 10 year tax abatement.

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    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lux Living Group | Keller Williams Main Line. 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. Data last updated: 2021-09-21T23:52:41.997.
    www.luxlivinggroup.com/homes/119948596
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    2625-33 W Jefferson Street PHILADELPHIA, PA 19121

    • Price: $1,260,000
    • Status: Active
    • ID#: PAPH2015034
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    2021
    Built
    Neighborhood:
    Brewerytown
    County:
    Philadelphia
    Area:
    19121 (19121)
    School District:
    The School District Of Philadelphia
    Property Description
    Jefferson Quarters presents one of the last, most substantial opportunities to build a multifamily development with a full 10 year tax abatement in one of Philly's fastest growing submarkets - Brewerytown. This is arguably the best located boutique development site in the neighborhood, commanding the corner of Bailey and Jefferson Streets, overlooking the historic Jefferson Street Ballparks and Athletic Square, a community favorite and an outstanding natural amenity for future building residents to enjoy. The irreplaceable park setting cannot be copied and Ownership has designed a Property that will endure for generations as a 25-unit trophy apartment building with underground parking and spacious floor plans. As the submarket continues to mature, the exit strategy could be through condo conversion several years down the road, specifically with such spacious units and dedicated parking. 1-2-3 bedroom floor plans add variety and flexibility and most units have private outdoor space via balconies, topped off by a common rooftop terrace overlooking the park with unparalleled skyline vistas. This boutique elevator building will be the crown jewel of Brewerytown - located within walking distance to Fairmount Park, the nation's largest urban park, and Girard Avenue's commercial corridor - loaded with authentic destination dining, breweries, cafes and shops. The building has been optimized to take advantage of rising demand with spacious residences, outdoor spaces and the ultimate urban luxury - parking. Alternatively the site can be developed as quadplex buildings through a deconsolidation of the current lot - to build five (5) quads totaling twenty (20) units - a slightly faster/more economical development approach. Over the counter zoning can easily be obtained. The current plans are approved and much of the entitlement process has been completed by Ownership: new owner will be responsible for obtaining building permits, paying housing bonus (240K) and applying for 10 year tax abatement.
    Exterior Features

    Construction Materials Masonry Garage YN No Location Type Urban Lot Features ClearedCorner Parking Features Private Parking Types Private Garage Property Condition Excellent Riparian Rights YN No View CityPanoramicPark/GreenbeltTrees/Woods Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 35805.00 Cooling Central A/C Heating Central Heating YN Yes Inclusions Zoning PermitPhase 2GeotechArchitectural PlansStructural DrawingsSite Plan Net Square Feet 35805.00

    Property Features

    Accessibility Features None Assessment Year 2021 Association YN No Business Type Apartment Building Central Air YN Yes Construction Completed YN No Cooling Fuel Natural Gas Cross Street Bailey St Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N New Construction YN Yes Original MLSNumber 800899518778 Ownership Interest Fee Simple Possession Immediate Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 615.00 Tax Assessment Amount 43900.00 Tax Lot 389 Vacation Rental YN No Water Source Public Zoning Rm1 Zoning Description Zoning Approved For 25 Units

    Listing courtesy of Compass Pennsylvania, Llc.


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lux Living Group | Keller Williams Main Line. 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. Data last updated: 2021-09-21T23:52:41.997.
     
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