Baltimore, MD – Harbor Stone Advisors has successfully completed the sale of 107 and 109 West Monument, 25 total units in Baltimore’s historic Mount Vernon neighborhood. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi served as advisors to the seller.
107 W Monument (19 units) and 109 W Monument (6 units) are comprised of a mix of (2) studio, (21) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (1) 2 Br-2 Ba layouts. Apartments feature white/stainless steel appliances, wood cabinetry, granite countertops, and hardwood flooring. Renovations were completed across all units between 2018 and 2019.
The opportunity exists for the new owners to organically increase rents, as nearby comparable properties are achieving rents at least 10% higher.
The properties benefit from a premier location about ten minutes from Penn Station, which is undergoing a $150 million redevelopment. The property is also within walking distance to major institutions, such as the Peabody Institute of the Johns Hopkins University, Maryland Institute College of Art, and University Maryland Medical Center Midtown Campus.
Verner noted, “We are excited to announce the successful sale of two adjacent buildings comprising 25 units in Mt Vernon. Our team represented Delancey Street Capital and sourced two unique buyers. We continue to see robust investor interest in Mt Vernon and have completed 17 multifamily deals in the neighborhood through the first 8 months of 2025”.
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