Harbor Stone Advisors, a Mid-Atlantic leader in multifamily investment sales, has orchestrated the sale of Chatham Apartments,18 units located at 1720 St. Paul St in the Station North neighborhood of Baltimore, MD. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, and Senior Advisor Tom Wohlgemuth served as exclusive advisor to the seller, as well as sourcing the buyer.
Chatham Apartments features (5) Studios, (11) 1 Bedrooms and (2) 2 Bedrooms. There are 6 bi-level units and 5 of the units have decks. Property amenities include 8 surface parking spaces behind the building and coin operated laundry in the basement. Typical unit features consist of white/stainless steel appliances, formica countertops, wood cabinets, and laminate/vinyl/carpet flooring.
Healy noted, “The Chatham Apartments provide the opportunity for the buyer to immediately renovate over half of the property and bring rents to market rate. Located blocks from the Penn Station redevelopment, it will offer a quality housing option for renters that utilize train transportation.”
Chatham Apartments is located in the Station North neighborhood of Baltimore City, the heart of the arts and entertainment district. This central location within the city provides walkability to restaurants and cafes, as well as a plethora of entertainment, including art galleries, theaters, and a cinema. The asset is just 1.5 miles from the prestigious Johns Hopkins University’s undergraduate campus. JHU is the top employer in Baltimore City, with over 25,000 employees, and is home to more than 7,000 undergrads and nearly 2,000 graduate students. Other nearby top colleges and universities include the Maryland Institute College of Art (MICA), one of the country’s premier art schools, and the University of Baltimore. The property is within minutes of Baltimore’s historic Penn Station, which is set to receive $150 million in renovations in the coming years.
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
