A Main Street site in Manayunk that is one of its few remaining developable sites has gone onto the market, writes Ryan Mulligan for the Philadelphia Business Journal.
Plans have already been approved to construct 181 luxury waterfront apartments at the site on “Venice Island” that sits between the Manayunk Canal and the Schuylkill River.
In addition, there are also approved plans for 1,441 square feet of retail space across the canal.
According to the plans, the 181 units would be built across two five-story buildings with 145 parking spots.
At the moment, the parcels that comprise the development site are a parking lot and a car detailing business. It also previously housed a retail building that has since been demolished.
Since 2021, the site has been owned by Newtown-based developer Rock Urban Management, who purchased it for $4.5 million.
According to broker Carl Fiebig, the asking price for the site, which is being marketed by JLL, is in the low $7 million range.
“Manayunk has continued to flourish and has the right fundamentals,” said Fiebig . “It’s very challenging to get projects of this scale in this neighborhood … We think [the site] is going to be highly sought-after.”
Read more about the Main Street Manayunk site now up for sale at the Philadelphia Business Journal.
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