Harbor Stone Retained as Exclusive Advisor to Market Lofts at the Daily Record, 20 Units in Landmark Downtown Building

Harbor Stone Advisors has been awarded the assignment to market Lofts at the Daily Record, a gut-renovated multifamily asset in Downtown Baltimore, once the Daily Record newspaper’s office building before its conversion to luxury apartments in 2018. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, and Senior Advisor, Tom Wohlgemuth, are marketing the property.

Lofts at the Daily record, located 11 E Saratoga St., features a mix of mix of (3) Studios, (13) 1 Br-1 Ba, and (4) 2 Br-1 Ba units. Unit features include stainless steel appliances, granite countertops, wood cabinets, vinyl plank/tile flooring, and washer/dryers in some units. In addition to interior renovations completed by prior ownership, current ownership has updated all mechanical systems.

With minimal deferred maintenance, the opportunity exists for a new owner to organically increase rents, as comparable nearby properties are achieving at least $200 higher than the subject property.

Boasting a walk score of 99 and a transit score of 100, the property is located in the coveted Downtown Baltimore neighborhood. The subject property is ideally located within steps of several major employers and ample public transportation, as well as several retail, dining, and cultural attractions. Of note, the property is within one-half mile of Mercy Medical Center, which hosts over 4,000 daily employees, as well as the newly renovated CFG Bank Arena and Lexington Market. The property is within steps of a LightRail and Baltimore Metro SubwayLink Station, and a 10-minute drive from Baltimore’s historic Penn Station. Penn Station is set to receive $150 million in renovations in the coming years, and offers convenient access to Amtrak trains and the MARC commuter train to Washington, D.C.

About Harbor Stone Advisors

Harbor Stone Advisors specializes 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.