In its heyday, the Congress Hotel hosted such luminaries as Bob Hope and the Marx Brothers.
James Briggs
Associate Edtior- Baltimore Business Journal
A once-prominent hotel building is on the real estate market in Baltimore City.
The Greysteel Co. LLC of Bethesda has listed for sale the 38,912-square-foot Congress Apartments at 306 W. Franklin St, just west of the Washington Monument downtown.
The eight-story, 38,912-square-foot building was constructed in 1905. As a hotel, it served guests such as Bob Hope, Al Jolson and the Marx Brothers.
Baltimore developer Struever Bros. Eccles Rouse converted the building to a 36-unit apartment complex in 2000. It also includes four commercial units.
Greysteel has not set an asking price for the building. The owner, Congress Financial LLC, acquired it for $2.35 million in a September 2010 foreclosure auction. Its assessed value is $3.44 million.
The building has been somewhat controversial. When former owner Kernan Apartments LLC defaulted on its loan, the state of Maryland lost millions of dollars it had awarded for the apartment conversion.
But the building has drawn renters. The Congress Apartments are more than 90 percent occupied, according to CoStar Inc.
Ari Firoozabadi, John F. Mullen and Henry Schuldinger of Greysteel are representing the building owner.
Follow Your Favorites with My News
My News is a way to create a customized news feed based on companies and industries that matter to you.
Open all references in tabs: [1 – 4]