(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.
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