Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has executed the sale of Suites at St. Paul, 16 units located in the heart of the historic neighborhood of Mount Vernon at 902-904 St. Paul St, Baltimore, MD 21202. The asset was renovated in 2009 and is comprised of (4) Jr 1Br-1Ba and (12) 1 Br-1 Ba units. 8 of the 16 units are duplex style, a unique feature for this market. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller, Spectre Equities, in the transaction.
Verner noted, “We continue to see robust multifamily investment activity and deal velocity in Mount Vernon. Our team has led the successful disposition of over 100 apartment buildings in this neighborhood alone. The purchaser was a local investment group seeking additional scale near other assets they own.”
Suites at St. Paul is located in Midtown Baltimore within the charming, historic Mount Vernon neighborhood. Mount Vernon is known for its stunning 19th century architecture, parks, museums, cultural landmarks, Zagat-rated restaurants, and close proximity to Downtown Baltimore, the Central Business District and the Inner Harbor. The neighborhood has abundant local dining, shopping and entertainment. The subject property has a Walk Score of 97, ranking it a Walker's Paradise. Many cultural landmarks are also located within short walking distance including the Washington Monument, the Walter’s Art Museum, Meyerhoff Symphony Hall, the Baltimore Basilica, and multiple restaurants. Major employers of the area include Mercy Health Services with 4,028 employees, MICA with 2,142 employees, UMMC's Midtown Campus with 500 doctors and 1,100 employees, and Agora with 850 employees.
About Harbor Stone Advisors:
Harbor Stone Advisors specialize in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information visit www.harborstoneadvisors.com.
