3000 Grays Ferry Ave
Philadelphia, PA 19146
Unit B · Land For Sale · 1.41 AC

On behalf of Ownership, CBRE is pleased to present the opportunity to acquire fee simple ownership in 3000 Grays Ferry Avenue, Condominium B (the “Property”), located in the rapidly transforming Grays Ferry neighborhood in South Philadelphia. Comprised of 1.415 acres with frontage on Grays Ferry Avenue and 30th Street, the Property is zoned CMX-3, one of the most permissible zoning designations in Philadelphia. CMX-3 zoning allows for FAR of 500% by right, supporting a development of 300,000+ square feet, which could accommodate 400 to 500 residential units. Although CBRE believes that the Property is ideal for a 7-story mixed-use development with 6 stories of multifamily over street-level retail and parking, numerous other uses are permitted. 3000 Grays Ferry Avenue is located within a Qualified Opportunity Zone, allowing investors to defer taxes on realized gains and reduce their tax liability. In addition, a new development will qualify to take advantage of Philadelphia’s 10-Year Property Tax Abatement program, providing clarity on real estate taxes for a decade.