Baltimore, MD – Harbor Stone Advisors has been awarded the assignment to market Saratoga Lofts, a gut-renovated asset in Downtown Baltimore. Harbor Stone Advisors President, Justin Verner, Director, Brooks Healy, Senior Advisor, Tom Wohlgemuth, and Advisor, Kevin Landolphi are marketing the property.
Saratoga Lofts, located 125 W Saratoga St., features a 19 spacious units, including (5) one-bedroom and (14) two-bedroom units. Most units are bi-level and include private balconies. Converted from a historic church in 2015, typical unit features include stainless steel appliances, granite countertops, wood cabinetry, hardwood/tile/carpet flooring, and in-unit washer/dryers.
In addition to luxury unit finishes, the property features a variety of on-site amenities. The property includes a fitness room with a sauna, a storage room, and a gated surface parking lot with 8 spaces.
The property presents an opportunity for a new owner to add value. A new owner may organically increase rents, or evaluate expansion of the existing water reimbursement program.
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