Harbor Stone Advisors has brokered the sale of The Apartments at St. Paul, 20 units located in 3 contiguous buildings within the premier Mount Vernon neighborhood of Baltimore, MD. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller, East Coast Asset Management.
The apartments are located at 803-807 St. Paul St, Baltimore, MD 21202. The asset has a unit mix of (3) Studios, (15) 1 Br-1 Ba, and (2) 2 Br-1 Ba units. 807 St. Paul was renovated in the late 2000s, and units feature wood cabinets and granite countertops. Typical unit features at 803 and 805 St. Paul consist of wood or wood laminate cabinets, and laminate countertops. Property amenities include on-site laundry, and off-street parking that includes 8 surface spots and 2 garage spaces.
Verner noted, “Mount Vernon has continued to see significant transaction velocity in the multifamily sector. This particular offering had more scale than typical for the neighborhood and abundant parking in the rear, both of which sparked investor interest.”
The Apartments at St. Paul are located in Midtown Baltimore within the historic Mount Vernon neighborhood. Located just north of Downtown, the Central Business District, the Inner Harbor and Camden Yards. Abundant local dining, shopping and entertainment. The subject property has a Walk Score of 98, 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 specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include asset dispositions and marketability analysis for private clients, owners, investors and financial organizations. For additional information visit www.harborstoneadvisors.com.
