The Residences at 230 Vine

On behalf of ownership, GREA extends to qualified investors the opportunity to acquire the fee simple interest in 230 Vine Street (the” Property” or “Site”). The Property is a total of 13,684 square feet zoned CMX-3 in the heart of the Old City Neighborhood of Philadelphia.

The Site presents new ownership with the opportunity to develop a fully approved, shovel-ready mixed-use property with 85 residential units and 5,925 square feet of commercial space in a rapidly developing pocket of Old City. The Property would have frontage on three streets - Vine, New, and Bodine. In addition, plans call for 30 parking spaces on an underground level accessed by a ramp/driveway off New Street. The Site is within walking distance of James Beard award-winning restaurants such as Amada, Zahav, Buddakan, Fork, and the Royal Boucherie.

Old City is poised to see significant demand for housing as it is considered one of the City’s top neighborhoods. The Site is well-positioned to be a preeminent luxury development in a submarket that is poised to outperform other oversupplied areas of Philadelphia. The Park at Penns Landing, a new $360MM 14-acre park, is now under construction connecting Old City to the Delaware River. The Site will greatly benefit from the massive project aimed at rejuvenating the Philadelphia Waterfront and injecting fresh energy into Old City.

The Property is steps from the 2nd and Market Street Station on SEPTA’s Market-Frankford Train Line carrying commuters to Center City Philadelphia and the surrounding suburbs. Future tenants will have direct access to Interstate 95, 76, and 676, and the Benjamin Franklin Bridge connecting motorists to employment and entertainment centers throughout the tri-state area.

This Site represents a rare opportunity to acquire a unique asset with a modern high-end design in a core location in the City of Philadelphia.