Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of Printers’ Square, a 60-unit multifamily community, located in Baltimore, MD.
Greysteel Senior Investment Associates, Alicia Orkisz and Ari Azarbarzin and Investment Associate, Henry Mathies from the firm’s Washington, D.C. office are marketing the Property.
Constructed in 1906, Printers’ Square is a is a 60-unit, mid-rise community located in Baltimore City’s fashionable Midtown-Belvedere neighborhood. The Property offers a mix of one-bedroom and two-bedroom units with an average size of 848 SF. Community amenities include a controlled access entry, fully equipped fitness center and private parking and unit amenities include individually-controlled and metered HVAC, loft-style layouts, vaulted ceilings, private balconies and entrances, and washer and dryers in many units.
Printers’ Square offers residents a walkable urban lifestyle with popular restaurants, bars, and entertainment venues within a few blocks. Nearby bus lines provide easy commutes throughout Downtown Baltimore. Penn Station is also within walking distance and allows for direct access to the Amtrak and MARC train systems, which service the greater Baltimore-Washington Metro Area.
The Property is within a two-mile radius of some of the most renowned institutes of higher learning in the country, including Maryland Institute College of Art (MICA) and Johns Hopkins Medical School. One and a half miles north, Johns Hopkins University is a world-class research institution and the largest employer in the city. Other major employers in the nearby area include T. Rowe Price, Under Armour, Constellation Energy, MedStar Health, and LifeBridge Health.
“Printers’ Square was converted from a firehouse to an apartment community and half of the units were placed-in-service under the Section 42 Low Income Housing Tax Credit (LIHTC program) in 2007,” said Ms. Orkisz. “With in-place rents 40% below market, new ownership will have the opportunity to increase rents substantially.”
Greysteel is a commercial real estate and capital markets services firm with 11 offices located in New York, NY; Los Angeles, CA; Dallas, TX; Fort Worth, TX; Washington, D.C.; Philadelphia, PA; Phoenix, AZ; Denver, CO; Baltimore, MD and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com