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Doracon, UrbanAmerica Snag Last Site in Inner Harbor

BALTIMORE-Schulweis Realty sells the parking lot for $27.5 million. The new owners now plan to develop a $250-million, 52-story, mixed-use property on the parcel.

By Erika Morphy | Updated on September 05, 2006

BALTIMORE-A joint venture between Doracon LLC of Maryland and UrbanAmerica LP, a New York City-based private equity real estate firm, has acquired the last available developable plot in Baltimore’s Inner Harbor from Schulweis Realty for $27.5 million.

The site, located at 300 East Pratt St, is now a parking lot. The buyers plan to develop a $250-million, 52-story, mixed-use project that will include 300 condos, a 250-key, five-star hotel and 40,000 sf of restaurants and shops. The condominiums and the hotel will share the same amenities, including a concierge desk and a swimming pool.

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