(To read more on the multifamily market, click here.)

BALTIMORE-The historic Brexton Apartments building will become a 13-unit condominium property, now that the Baltimore Department of Planning's Commission for Historical and Architectural Preservation has given its approval for the project to proceed. Owner Park Avenue LLC--which, according to the Maryland Department of Assessments and Taxation, acquired the structure in 2000 for $122,500--will spend $4 million on the conversion endeavor.

Located at 868 Park Ave, the 12,100-sf Brexton building is part of the Baltimore City Heritage Area. The structure was originally developed in 1881 as the Hotel Braxton, designed by architect Charles E. Cassell.

For the last 18 years, however, the structure has sat vacant. Park Avenue LLC has not announced a date for the start of the conversion project.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.