Agent PHL Sells Development Site In Philadelphia For $3M

An affordable housing development site located at 2400 East Venango Street in Philadelphia has been sold for $3,000,000. The property features 30 new residences consisting of 3-bedroom, 3-bathroom townhomes with garage parking. The development site spans a total of 38,000 square feet, resulting in a price per buildable square foot (PPBSF) of $79. Situated in a convenient location near transportation and amenities, this project aims to address the demand for affordable housing in the area.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $3,000,000
• BSF: 38,000
• PPBSF: $79
• Address: 2400 East Venango Street, Philadelphia
• Market: Philadelphia

Ryan McManus from Compass and Rich Cassell from Keller Williams served as the brokers involved in this sale transaction. Their expertise and representation were instrumental in the successful completion of this deal.