A storied Downtown Baltimore event venue is for sale three years after its current owner purchased it and an adjacent hotel property at auction.
The Grand at 225 North Charles Street, built in 1866, was listed by CBRE (CBRE) brokers Jack Taylor and Laurence Oster, the Baltimore Business Journal reported Thursday. An asking price was not immediately disclosed. Meetings, galas and other events will continue during the sale process.
The 90,000-square-foot mansion includes 45,000 square feet of event space spread over 19 rooms, according to the website of owner Urban Investment Partners (UIP). The Washington, D.C.-based developer led a group that acquired The Grand and the former Embassy Suites Hotel on St. Paul Place in July 2021 for $18.3 million, according to the Journal report. At the time, UIP had plans to convert the hotel property back to apartments. Plans to sell the hotel site last fall were canceled after the owner said it secured financing extensions, the Journal said.
Steve Schwat, principal at UIP, was not immediately available for comment.
The Grand was the state headquarters for Maryland’s Freemasons for more than 130 years, UIP said. The building underwent a “massive” restoration project in the late 1990s, according to the website of the facility’s operator, Milestone Hospitality Management, before reopening in 2005. The Grand is used for meetings, corporate and social events, as well as a filming location. The HBO comedy “Veep” and Netflix drama “House of Cards” were among shows that recorded at the space, Milestone said.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, off market, investment sales, Commercial Real Estate, Commercial Observer
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