1326-46 N BROAD ST #2, PHILADELPHIA, PA 19121 (MLS # 7048741)

Price $3,500,000
Status Active
Beds 0
Baths 0 bath
Home size 32,499 sq ft
Lot Size 13,503 sqft
To qualified investors, buyers, developers and preservationists: seize the rare opportunity to acquire and redevelop the historic Freedom Theatre building located at the SW corner of North Broad & Master Streets on TU's vibrantly expanding world-class campus. The property's favorable high-density CMX-4 zoning classification allows for as much as 100 per cent lot coverage plus 500 per cent FAR and 700 per cent bonuses. Approximately 14,790 SF of lot coverage is available for redevelopment, along with the existing historic structure. The lot runs street-to-street from North Broad to Carlisle Street with 33 feet of frontage on North Broad, 100 feet of frontage on Carlisle Street, and 200 feet along Master Street. This key corner property is historically designated and offers its future owner the lucrative opportunity to pursue preservation tax credits and grants from the state of PA, in addition to the city's powerful 10-year tax abatement program, which can be utilized to strategically redevelop this asset to its best and highest modern use. The building is rich in classical architectural detail, from its handsome 19th Century (c. 1853) brownstone fa~ade to its dramatic North Broad entrance. One block NW from our subject site, The Modules at TempleTown (1417 N 15th Street), a 72-unit new construction student-housing development, traded for 11.78M in July 2017. Next door from our subject site (1324 North Broad) plans have been approved for a 17-story, 180-unit tower designed by local starchitect Cecil Baker, which will incorporate a lively array of street-activating retail. Immediately to the rear of our subject site, at 1325 N 15th Street, 64 luxury residential units with an underground parking garage were constructed and successfully leased up in 2015. The TU Sports Complex, which was designed and built from the ground up, opened in August 2016 directly across the street at 1333 North Broad. The Legendary Blue Horizon boxing venue at 1314 North Broad is under contract after being listed for 4.75M and is scheduled to soon undergo a full transformation into a large mixeduse development under its new ownership. These are just a handful of the many examples of progressive new development immediately surrounding the Freedom Theatre on North Broad. For a full recap of North Broad and TU development projects, Historic preservation assessment from the community design collaborative + artistic renderings, inquire within. Listing price reflects development potential.
Property Type(s): Multi Family
Last Updated 9/7/2017 Tract TEMPLE UNIVERSITY
Year Built 1960 Community 19121 (19121)
County PHILADELPHIA

SCHOOLS

School District Philadelphia

Additional Details

AIR Central A/C
AIR CONDITIONING Yes
AREA 19121 (19121)
BASEMENT Full, Yes
CONSTRUCTION Brick
GARAGE NoGarage
HEAT Gas
INTERIOR Elevator
LOT 0.31 acre(s)
LOT DIMENSIONS 33X200
POOL DESCRIPTION N
SEWER Public Sewer
STYLE AptBldg
SUBDIVISION TEMPLE UNIVERSITY
TAXES 0.0
UTILITIES Public; Public Sewer;
WATER Public
WATERFRONT DESCRIPTION N

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Listing with: Re/Max Platinum-Philadelphia

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