Chestnut Portfolio 2 Properties in Philadelphia, PA
INVESTMENT HIGHLIGHTS
- Located in the heart of Rittenhouse
- CMX-5 Zoning, developable area of over 200,000 SF
- Rare investment opportunity
- zoning provides the highest possible development capacity by right in the City
EXECUTIVE SUMMARY
Savills Inc. (“Savills”) has been retained on an exclusive basis to arrange the sale of both
1812-14 Chestnut St. and 1816 Chestnut St. (the “Subject Property”). The property is
located in the heart of Rittenhouse, which is Philadelphia’s most luxurious neighborhood.
The property and surrounding blocks are zoned CMX-5. This zoning provides the highest
possible development capacity by right in the City of Philadelphia. The Maximized FAR for
these properties permits the addition of approximately 161,000 SF.
1812-14 Chestnut St. and 1816 Chestnut St. (the “Subject Property”). The property is
located in the heart of Rittenhouse, which is Philadelphia’s most luxurious neighborhood.
The property and surrounding blocks are zoned CMX-5. This zoning provides the highest
possible development capacity by right in the City of Philadelphia. The Maximized FAR for
these properties permits the addition of approximately 161,000 SF.
PROPERTY FACTS
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 42,791 SF |
| Total Land Area | 0.41 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1816 Chestnut St, Philadelphia, PA 19103 | Office | 21,315 SF | 1925 | - |
| 1812-1814 Chestnut St, Philadelphia, PA 19103 | Retail | 21,476 SF | 1971 | - |
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