Philadelphia, PA
Property Type: Mixed-UseSize: 71 Apartments + 2 Commercial
Price: See Broker for Details
CAP: See Broker for Details
Highlights:
- Brand New Construction Luxury Mixed-Use Community Featuring 71 Apartments & 2 Commercial Spaces
- Highly Desirable Location on the Border of Northern Liberties & Fishtown - One of the Most Sought-After Rental Markets in Philadelphia
- 71 Apartments Boast High-End Finishes, Floor-to-Ceiling Windows, & Large Balconies with City Views
- Comprehensive Amenity Package Includes Rooftop Deck, Fitness Center, Outdoor Terrace, Garden Area, & Covered Parking
- Rare Opportunity to Own a Highly-Walkable, Transit-Oriented Asset in One of the Best Rental Submarkets in Philadelphia
- Full 10-Year Tax Abatement
- Property will be Delivered Vacant with a Certificate of Occupancy
Description:
Marcus & Millichap is pleased to present for sale 1222 North 2nd Street - A brand new construction luxury mixed-use community, featuring 71 apartments and 2 commercial spaces. The property is located on the border of Northern Liberties and Fishtown - One of the most sought-after and attractive rental markets in Philadelphia. This area has exhibited some of the fastest rates of rent growth in the Philadelphia MSA. Known for its numerous boutique shops, fine dining, and trendy bars and hot spots, Northern Liberties/Fishtown has become a destination for a diverse pool of people, including young professionals, families, recent college graduates and generations of Philadelphians.
1222 North 2nd Street features 71 modern and luxurious residential units. Offering tenants studio, one- and two-bedroom floorplans, the units boast high-end finishes, including gourmet kitchens, stainless steel appliances, 11-foot floor-to-ceiling windows, and large balconies with city views.
The residents of 1222 North 2nd Street have access to top-of-the-line amenities, including a rooftop deck, fitness center, outdoor terrace, garden area, and 21 covered parking spaces.
The Property’s outstanding location enables excellent connectivity to surrounding submarkets and job centers. With easy access to I-95 and all of the major highways, 1222 North 2nd Street is ideal for renters looking for a luxury experience with the convenience of urban living. Girard Station is just one block away.
The Property will benefit from the full 10-year tax abatement. Philadelphia’s tax abatement is available in the City for newly developed properties. The abatement exempts from taxation the assessment assigned to new improvements throughout the 10-year period, while the land remains fully taxable.
The property will be delivered vacant with a Certificate of Occupancy. This is a rare opportunity to own a brand new, highly walkable, transit-oriented asset in one of the best rental submarkets in Philadelphia.
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