1901 N American St
Philadelphia, PA 19122
1901 Lofts · Land For Sale · 1.38 AC

1901 Lofts is a multi-family development site located at 1901-1975 N. American Street. This approved development site sits on a 60,000± square foot parcel and maintains 500 feet of street frontage on North American Street and four street frontages across a full City block in the South Kensington/Fishtown neighborhood of Philadelphia. This rapidly-developing neighborhood is recognized for its immediate proximity to Northern Liberties. This development opportunity is an approved site for 286 residential units, 10,431 SF of commercial space and 93 off-street parking spaces. The project is located within a Qualified Opportunity Zone. Additionally, the project qualifies for a 10-year real estate tax abatement with the new construction. Well located on a highly-visible street in South Kensington/Fishtown, the site is situated a few blocks from Berks Station on the SEPTA Market-Frankford Line providing access to Center City within 12 minutes. In addition, the property is an easy walk to everything that the exceedingly popular Frankford/Girard Avenue corridors have to offer. This includes the best of Philadelphia’s nightlife such as Frankford Hall, Fette Sau, Johnny Brenda’s, Garage, Martha, LaColombe’s flagship location, Pizza Brain, Wm. Mulherin’s Sons (named a top 50 restaurant in the US by Bon Appétit) and Suraya (voted “Best New Restaurant of 2018” by Philadelphia Magazine). In addition to the major business corridor of Frankford/Girard Avenue, the inner Kensington neighborhood is experiencing a resurgence with new bars and restaurants opening alongside established favorites like Café Pho Ga Thanh Thanh, Memphis Taproom, and Cook and Shaker. The demand for high-quality rental buildings in South Kensington/Fishtown is extremely strong. Occupancy in this submarket is robust and typically in the 95% to 100% range (see Rental Market Survey in Offering Memorandum). 1901 Lofts presents a tremendous opportunity to acquire a large development parcel (286 apartments plus commercial) in a Qualified Opportunity Zone in one of the hottest neighborhoods in Philadelphia.