Baltimore Clayworks Rejects Sale-Leaseback Offer for its Gallery Building

5/22/17

By Ed Gunts, Baltimore Fishbowl

The trustees of Baltimore Clayworks have turned down a purchase offer from a businessman who wants to help the art organization retain at least one of its two buildings in Mount Washington.

Real estate professional Sid Emmer, of Sidney Emmer Builders, said this week that he offered to pay $800,000 to purchase Clayworks’ Gallery building at 5707 Smith Avenue, for continued use by the nonprofit group.

Emmer said his plan was to buy the gallery building and lease it back to Clayworks, which would be able to use the proceeds from the sale to help pay off its debts. The lease rate would be $1 a year for two years.

READ FULL ARTICLE HERE