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A 111-year-old apartment building in Baltimore's Mount Vernon neighborhood is up for sale.
SVN Realsite has listed the 40-unit Congress Apartments at 306 West Franklin St. Built originally in 1906 as a hotel, it is currently owned by Zahlco Development, which recently refurbished the public spaces and apartments.
One of the building's unique features is an 8K SF sub-basement with a 100-foot marble bar. It was once a nightclub that hosted Iggy Pop, R.E.M. and the Talking Heads. Zahlco purchased the apartment building in 2015 for $3M, according to state property records. The state assesses the property at $4.1M.
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The developer may stay involved in the development, remaining as a part-owner or manager, Zahlco CEO Yonah Zahler said.
"We want to stay active in the area," Zahler said. "We're not running away from the neighborhood."
Zahlco's $1M renovation of the property included mechanical upgrades, new décor in the common areas and cleaning up the Marble Bar. The apartment renovations are ongoing, Zahler said.
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