Downtown Baltimore Property Sold through Greysteel
- Feb 18, 2016
Baltimore—Washington, D.C.-based Greysteel recently announced it has facilitated the sale of an 11-unit multifamily property in downtown Baltimore. Greysteel represented the seller, WATASSA-814 Park Ave LLC, who sold the property to Peerless LLC. Maryland’s Department of Assessment and Taxation recorded the sale, which closed for a little more than $1 million, in early February. The same department reported that the last evaluation—as of January 2016—valued the property at $619,500.
Situated in the historical Mount Vernon neighborhood, the Apartments on Park building sitting at 814 Park Ave. was built over a century ago and last saw renovations in 2006. Comprising seven one-bedroom units and four efficiencies, the property is ideally located for anything central Baltimore. With major bus lines close to the doorstep and the State Center Metro Station under half a mile away, the building offers quick local and regional links.
In terms of local points of interest, the Apartments on Park is, again, less than half a mile away from the Peabody Institute, the Walters Art Museum, the Lyric Opera House, the Meyerhoff Symphony Hall, and the original Washington Monument. Conveniently nested in the heart of Mount Vernon, the building is also close to a wide selection of boutiques, retailers, restaurants, and nightlife destinations.
“The Apartments on Park received tremendous attention from the buyer community due to its size and location. (…) Coupling the recent improvements with strong property and market fundamentals, the buyers will be able to secure favorable financing terms,” said in prepared remarks Lance Ahmadian, Greysteel Investment Associate.