BALTIMORE—New York City-based Castle Lanterra has entered the Baltimore market with the purchase of the 77-unit 222 E. Saratoga St. apartment building here for $13.5 million from RWN Development Inc.
The final sale price turned out to be $2 million less than the $15.5-million listing price, according to state property records. The deal calculated out to $175,325 per unit, according to the Baltimore Business Journal.
RWN purchased the building at 222 E. Saratoga St. for $14.5 million in 2006 and converted it from a warehouse to an apartment complex. Cameron Manesh of Gaithersburg-based Ideal Realty Group represented RWN Development in the sale of the building. See story in the Baltimore Business Journal.
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