A reader tipped us off that St. Andrew Ukrainian Catholic Church at 425-29 Pine St. is on the market. Currently listed for $2M, this property was purchased about five years ago for $1.5M by a private investor who, for whatever reason, was unsuccessful redeveloping the property, and is now trying to sell it and come close to breaking even on the deal.
This property is located in the highly desirable Society Hill neighborhood and the bones of the building look very good, so we’re hopeful that a developer will come in and, with a combination of reuse and new construction, create condos at this address. On the other hand, this would also seem to be a solid candidate for an enormous, one-of-a-kind single family home, a la 832 Lombard St.
The church is historic, and Society Hill has rigorous design standards, so any new development will be carefully reviewed before it gets the necessary support. One thing this building has going for it that should make approvals at least a little easier is flexibility to include parking on the western side of the structure.
While we keep seeing churches torn down in Philadelphia, we have a good feeling that this one isn’t going anywhere anytime soon.
Hey, we’ll move in tomorrow for the right price.