2401 Frankford AveDelivered

A 15-unit residential building is set to rise at 2401 Frankford Ave in Fishtown & East Kensington, the kind of by-right infill quietly reshaping the block. It was cleared to build in Aug 18, 2021.

The site is zoned CMX2, which supports a building on the order of 4 stories by right. The parcel last changed hands in 2021. The plans call for for the erection of a detached building with a green roof (covering atleast 60% of the rooftop) and decks at second, third and fourth floor. for the use as vacant non-residential use along 100% of the ground floor frontage of the primary street and multi-family (15 units) household living (utilizing green roof bonus and mixed income housing bonus), and to include five (5) class 1a accessory bicycle spaces. building to be fully sprinklered. separate permits required for m.e.p.s work. amendment for the inclusion of a concrete knee wall exterior wall foundation detail and to show two separate slab elevations at the ground floor as per approved revised plans. 2022/8/31 amendment: for the relocation to the inclusion of hold down as per approved plan. amendment for the removal of the ground floor pecio vault (to become vacant commercial space) .

The owner of record is Fishtown Flatiron Oz LLC. The project's plan drawings are on file — worth a look for anyone underwriting the surrounding block.

It isn't rising in isolation. Within a half-mile, 12 other major projects have broken ground since 2022 — roughly 522 units of new supply — including the 22-unit project at 2406 Frankford Ave, the 16-unit project at 2456 Frankford Ave, the 108-unit project at 2000-20 E Hagert St. That kind of concentration is exactly what pulls land values, and buyer attention, toward a block.

We'll update this page as the project progresses — leasing, retail tenants, renderings, and construction milestones as they surface. The relevant question for investors and agents: what are the surrounding parcels worth to a builder now that this is coming?